OnKure and Reneo Pharmaceuticals complete merger [Yahoo! Finance]
OnKure Therapeutics, Inc. - Class A (OKUR)
Company Research
Source: Yahoo! Finance
The shares will commence trading on the Nasdaq Global Market under the "OKUR" ticker symbol. The companies first reached an agreement to combine in an all-stock deal in May 2024. OnKure has also finalised a $65m private placement backed by both new and existing investors. This strategic financial move will extend the company's cash runway through multiple clinical readouts until the fourth quarter of 2026. The leadership of the merged company will include Nicholas Saccomano as president and CEO, Samuel Agresta as chief medical officer, Dylan Hartley as chief scientific officer and Jason Leverone as chief financial officer. The board of directors will feature a mix of members from both OnKure and Reneo, along with Valerie Jansen, who joined at the merger's closure. Saccomano stated: “We are ecstatic to finalise this merger, and move to accelerate the development of our mutant-specific PI3Ka inhibitor portfolio. “Combined with our unique expertise in PI3K-mutated cancers,
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