BioCryst To Acquire Astria Therapeutics In $700M Deal
Synopsis
The agreement values Astria at $13.00 per share, totaling approximately $700 million in enterprise value.
BioCryst Pharmaceuticals Inc. (BCRX) announced on Tuesday that it has struck a definitive deal to acquire Astria Therapeutics Inc.(ATXS), a clinical-stage biotech firm developing treatments for rare allergic and immunologic conditions.
The agreement values Astria at $13.00 per share, totaling approximately $700 million in enterprise value. The acquisition, approved unanimously by both companies’ boards, is expected to close in the first quarter of 2026.
To support the acquisition, BioCryst will fund the $8.55-per-share cash portion through a mix of cash on hand and a new financing facility from Blackstone, which offers up to $550 million in capital. The remainder of the consideration will be paid in BioCryst stock. Astria shareholders will own about 15% of the combined entity upon close.
BioCryst Pharmaceuticals’ stock traded over 8% lower in Tuesday’s premarket.
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