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Benzinga

Business

Adam Eckert

Why Antares Pharma Stock Is Soaring Today

Antares Nasdaq Halozyme

Antares Pharma Inc (NASDAQ:ATRS) shares are trading higher Wednesday after the company announced it will be acquired by Halozyme Therapeutics Inc (NASDAQ:HALO) for $5.60 per share in cash, valuing Antares at approximately $960 million.

The transaction was unanimously approved by both the Halozyme and Antares boards of directors and is expected to be immediately accretive to Halozyme's 2022 revenue and non-GAAP earnings. Halozyme expects the acquisition to accelerate top- and bottom-line growth through 2027.

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