Korsana Biosciences completes merger with Cyclerion Therapeutics, to trade as KRSA on Nasdaq
KRSA•Merger completed and shares to begin trading on Nasdaq
Korsana Biosciences completed its merger with Cyclerion Therapeutics, creating a combined company renamed Korsana Biosciences.
Shares are set to begin trading on Nasdaq on Sept. 9 under ticker KRSA.
A $380 million private placement closed immediately before the merger, lifting expected post-transaction cash to about $475 million.
Cyclerion effected a 1-for-7 reverse stock split ahead of the deal; about 55,100,000 shares and equivalents are outstanding post-close.
