Entered into a definitive merger agreement with OnKure, Inc. in an all-stock transaction.

The merger is expected to create a Nasdaq-listed, clinical stage biopharmaceutical company focused on advancing OnKure’s portfolio of precision oncology therapies.

The Merger and a concurrent $65 million private investment in public equity (PIPE) financing are expected to close in the second half of 2024, subject to receipt of stockholder approval and satisfaction of other closing conditions.

Including proceeds from the concurrent PIPE financing, the combined company is expected to have approximately $120 million of cash, cash equivalents and short-term investments at the closing of the Merger.