Merck To Acquire Harpoon - Quick Facts

(RTTNews) - Merck (MRK) and Harpoon Therapeutics, Inc. (HARP) have entered into a definitive agreement under which Merck, through a subsidiary, will acquire Harpoon for $23.00 per share in cash for an approximate total equity value of $680 million. Harpoon's lead candidate, HPN328, is currently being evaluated in a Phase 1/2 clinical trial.

Merck expects to record a charge of approximately $650 million, or approximately $0.26 per share, that will be included in non-GAAP results in the quarter that the transaction closes. The transaction is expected to close in the first half of 2024.

Shares of Harpoon Therapeutics are up 110% in pre-market trade on Monday.

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