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Aditxt (NASDAQ:ADTX) stock is trading higher on Wednesday. The biotechnology company and Evofem amended and restated their merger agreement.
The Details: The amended merger agreement addresses several issues, including resolving Evofem’s interim financing needs and substituting cash for Aditxt’s common stock as the consideration for Evofem’s stock.
Recently, Evofem announced the acquisition of the pharmaceutical drug SOLOSEC. “We [Aditxt] believe that SOLOSEC is a valuable asset that diversifies Evofem’s portfolio and has the potential to accelerate its evolution into a dynamic global women’s health business that addresses significant health challenges”, said Amro Albann, CEO of Aditxt.
“Our commitment to supporting the expansion of Evofem’s portfolio with additional products and broadening its market reach domestically and internationally exemplifies how the Aditxt model operates.”
The two companies are attempting to close the merger by the end of September. The deal is still subject to closing conditions and there is no guarantee that the transaction will close.
ADTX Price Action: At the time of publication, Aditxt shares are trading 38.8% higher at $2.26, according to data from Benzinga Pro.
Image: Myriams-Fotos from Pixabay
Posted In: ADTX
