This website uses cookies to collect usage information in order to offer a better browsing experience. By browsing this site or by clicking on the "ACCEPT COOKIES" button you accept our Cookie Policy.

Fibrocell Spikes 60% After Receiving Cash Bid From Castle Creek Pharma

Benzinga

Contributor:
Benzinga
Visit: Benzinga

By:

Benzinga Staff Writer

Castle Creek Pharmaceutical Holdings announced it will acquire Fibrocell Science, Inc. FCSC, a cell and gene therapy company in a $3 per share cash.

Castle Creek Pharmaceuticals is a privately held company developing therapies for patients with rare, serious or debilitating dermatologic conditions.

“Fibrocell’s gene therapy platform can be advanced into additional areas of high, unmet need with the potential to develop multiple, promising new therapies,” the company said in a statement.

Castle Creek Pharmaceuticals already has a licensing and development collaboration with Fibrocell, which began in April.

“As one company, we will be in a strong position to push forward initially with two late-stage clinical development programs targeting different types of EB [a rare genetic condition] with investigational gene and topical therapies, and one potential therapy for scleroderma,” said Greg Wujek, CEO of Castle Creek in a statement.

EB is a rare genetic condition that leads to extremely fragile skin resulting in mild to severe blistering, skin erosion and peeling of the epidermis layers in response to minor injury. There are currently no treatment options approved by the U.S. Food & Drug Administration.

Fibrocell Science shares were trading up 58.47% at $2.90 in Friday’s pre-market session. The stock has a 52-week range between $3.28 and $1.45.

Originally Posted on September 13, 2019 – Fibrocell Spikes 60% After Receiving Cash Bid From Castle Creek Pharma

Disclosure: Benzinga

© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Disclosure: Interactive Brokers

Information posted on IBKR Traders’ Insight that is provided by third-parties and not by Interactive Brokers does NOT constitute a recommendation by Interactive Brokers that you should contract for the services of that third party. Third-party participants who contribute to IBKR Traders’ Insight are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from Benzinga and is being posted with permission from Benzinga. The views expressed in this material are solely those of the author and/or Benzinga and IBKR is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

trading top