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BUZZ-Talaris Therapeutics up on Tourmaline Bio deal, reverse stock split approval

Reuters
Oct 18, 2023

** Shares of cell therapy company Talaris Therapeutics

up 8.2% at $3.1 premarket

** TALS on Tuesday after market close said its stockholders approved merger with biotech firm Tourmaline Bio; also announced a 1-for-10 reverse stock split of common stock

** TALS in June reported to merge with Tourmaline in an all-stock deal, creating a combined late-stage clinical biotech company listed on Nasdaq

** As per the terms, a wholly owned subsidiary of TALS will merge with Tourmaline

** The deal is expected to close on or around Oct. 19

** The combined co's common stock is expected to begin trading on Nasdaq on a split-adjusted basis on Friday, under the ticker symbol "TRML"

** As of last close, TALS stock up 176.5% so far this year

(Reporting by Pratik Jain in Bengaluru)

((Pratik.Jain@thomsonreuters.com;))

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