What a difference a few days makes! Just days ago, F-Star Therapeutics (NASDAQ:FSTX) plunged on news that an approaching buyout date was likely to come and go without a completed buyout. Now, however, the date has been postponed. That’s giving F-Star a new lease on life and a hefty jump in its share price.
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Just days ago, F-Star Therapeutics was on the cusp of losing a deal between itself and Sino Biopharmaceutical, owners of invoX Pharma. InvoX would have actually acquired F-Star. However, regulators stepped in. That put the deal in jeopardy.
However, F-Star got a second wind with an extended end date for the deal. The new end date is February 10. F-Star hopes to conclusively conclude negotiations with the Committee on Foreign Investment in the United States. Such a move will likely include addressing the Committee’s concerns about “national security issues.”
The latest developments for F-Star took place very close together. That’s turned the last five days of trading for the stock into a very volatile picture. Share prices tended to stay between $3.80 and $4.40 per share. However, the latest news sent the stock upward rapidly after its biggest drop under $3.60 yesterday. F-Star then jumped today, and the gains largely kept going as the trading day continued.
