(RTTNews) - Lisata Therapeutics, Inc. (LSTA) a clinical-stage pharmaceutical company Wednesday announced that it has entered into a binding term sheet to be acquired by Kuva Labs, Inc., a preclinical bioscience company developing the proprietary NanoMark direct MR imaging platform.
Following the acquisition news, LSTA is up over 80% at $3.99 in premarket trading.
Under the agreement, Kuva will commence a tender offer to acquire all outstanding Lisata shares for $4 per share in cash.
In addition, Lisata stockholders will be entitled to receive two non-tradeable contingent value rights (CVRs), in which one CVR will be payable as $1.00 per share, in cash, within 12 months of the date on which rights to certepetide revert to Lisata from Qilu Pharmaceutical in the Greater China region.
The second CVR will be paid at $1.00 per share in cash upon Kuva filing an NDA or similar registration document for approval to commercialise certepetide in any indication and jurisdiction.
The $4.00 per share cash offer price represents an approximate 85% premium, including both CVRs, an approximate 180% premium to Lisata's most recent closing stock price.
Certepetide is Lisata's lead cyclic peptide drug candidate, developed to enhance the delivery of cancer treatments into solid tumours.
As of July 2025, Certepetide has been awarded Fast Track designation (U.S.) and Orphan Drug Designation for pancreatic cancer (U.S. and E.U.), as well as Orphan Drug Designation for glioma (U.S.) and osteosarcoma (U.S.). Additionally, certepetide has received Rare Pediatric Disease Designation for osteosarcoma (U.S.).
Lisata and Kuva expect to enter into a definitive purchase agreement prior to February 27, 2026.
Over the year LSTA traded over a range of $1.8100 and $3.1100.
LSTA closed Tuesday's trade at $2.16.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
