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Atea Pharma Rejects Unsolicited Proposal From Tang Capital Partners
(RTTNews) - Biopharmaceutical company Atea Pharmaceuticals, Inc. (AVIR) announced Tuesday that its Board of Directors unanimously rejected the unsolicited proposal from Tang Capital Partners, LP on behalf of Concentra Biosciences, LLC to acquire all outstanding common shares of Atea for $5.75 per share in cash, plus a contingent value right representing the right to receive 80% of the net proceeds payable from any license or disposition of Atea's programs.
After careful review and consideration with its independent financial and legal advisors, the Atea Board of Directors unanimously concluded that the Proposal fundamentally undervalues the Company and is not in the best interests of Atea or its shareholders.
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Atea Pharma Says FDA Grants Fast Track Designation To AT-752 For Treatment Of Dengue
Biopharmaceutical company Atea Pharmaceuticals, Inc. (AVIR) announced Monday that the U.S. Food and Drug Administration (FDA) has granted Fast Track Designation to AT-752, a novel, orally administered, direct-acting antiviral for the treatment of dengue virus infection.
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Australian Market Significantly Higher
The Australian stock market is significantly higher on Monday, adding to the gains in the previous two sessions, following the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving well above the 8,000.00 mark, with gains across most sectors led by technology and financial stocks.
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China Stock Market May Remain Rangebound
The China stock market has finished lower in two of three trading days since the end of the two-day winning streak in which it had risen almost 25 points or 0.8 percent. The Shanghai Composite Index now sits just beneath the 3,300-point plateau although it's likely to bounce higher again on Monday.
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Tech Shares Likely To Boost Taiwan Stock Market
The Taiwan stock market has finished higher in two of three trading days since the end of the two-day slide in which it had stumbled more than 600 points or 3 percent. The Taiwan Stock Exchange now sits just beneath the 19,875-point plateau and it's got a solid lead again for Monday's trade.
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Singapore Stock Market May Halt Its Slide On Monday
The Singapore stock market has moved lower in two straight sessions, slumping almost 10 points or 0.3 percent in that span. The Straits Times Index now sits just under the 3,825-point plateau although it may find traction on Monday.
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Additional Support Anticipated For Malaysia Stock Market
The Malaysia stock market has moved higher in three straight sessions, gathering almost 25 points or 1.4 percent in that span. The Kuala Lumpur Composite Index now sits just beneath the 1,510-point plateau and it's expected to add to its winnings again on Monday.
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1h 37minuter sedan
Japan Stock Market May Extend Winning Streak
The Japanese stock market has finished higher in three straight sessions, collecting almost 1,500 points or 4.2 percent along the way. The Nikkei 225 now sits just above the 35,700-point plateau and it's expected to open to the upside again on Monday.
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1h 52minuter sedan
KOSPI May Extend Friday's Gains
The South Korea stock market has alternated between positive and negative finishes through the last four trading days since the end of the three-day winning streak in which it had climbed more than 40 points or 1.6 percent. The KOSPI now sits just beneath the 2,550-point plateau and it may tick higher again on Monday.
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