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The latest announcement is out from Avrobio (AVRO).
AVROBIO has finalized its merger with Tectonic, resulting in Tectonic becoming a wholly owned subsidiary and causing a significant shift in the company’s structure and stock. The merger was completed on June 20, 2024, following which AVROBIO underwent a 1-for-12 reverse stock split and changed its name to Tectonic Therapeutic, Inc. Stockholders of Tectonic received approximately 5.3 million new shares of the company, with trading expected to begin under the new ticker symbol “TECX” on the Nasdaq Global Market. This strategic move positions Tectonic as a primary business entity focusing on the development of therapeutic proteins and antibodies, with AVROBIO’s stockholders owning roughly a quarter of the combined company.
See more data about AVRO stock on TipRanks’ Stock Analysis page.
