What’s Going on with Translate Bio?
Today, August 3, Translate Bio (TBIO) announced that it will be acquired by French pharmaceutical company Sanofi. The acquisition is part of Sanofi’s overall strategy to accelerate the development of messenger RNA therapeutics and vaccines. During extended-hours trading this morning, TBIO stock rose 29.64% in value, up to $37.79 a share.
What Does This Mean for TBIO?
Sanofi's acquisition deal will see the Paris-based company scoop up (in cash) all outstanding shares of Translate Bio for a price of $38.00 per share. The total equity value of the deal is roughly $3.2 billion. The board of directors of both firms unanimously approved the transaction.
“Sanofi and Translate Bio have a shared commitment to innovation in the mRNA space,” Translate Bio CEO Ronald Renaud explained. “With Sanofi’s long-standing expertise in developing and commercializing vaccines and other innovative medicines on a global scale, Translate Bio’s mRNA technology is now even better positioned to reach more people, faster."
Translate Bio brings its powerful mRNA technology platform and abilities to the table, adding to Sanofi's advancement and acceleration of mRNA vaccines and therapeutics research and development.
TBIO has a Long-Term Technical Rank of 78. Find out what this means to you and get the rest of the rankings on TBIO!
Translate Bio Inc is a clinical-stage mRNA therapeutics company developing a new class of potentially transformative medicines to treat diseases caused by protein or gene dysfunction. The company is developing MRT5005, for the treatment of cystic fibrosis (CF) and MRT5201, for the treatment of ornithine transcarbamylase (OTC) deficiency.
