The stock of Acasti Pharma Inc (NASDAQ: ACST) rose by a margin of 6.8% to finally settle at $0.57.This company is excited to pronounce its entry into a definitive agreement, a deal that will see it win Grace Therapeutics to its side. Grace Therapeutics has been focusing on developing products geared towards the treatment of rare and orphan diseases.
The nature of the business agreement
Acasti eyes the completion of a deal that will see it acquire Grace’s pipeline of wide-ranging drug candidates. In other words, Acasti positions itself at a point where it will effectively address some diverse medical needs through its innovative medical products. It outlines that it will be serving both patients and the medical service providers, citing the new deal yet to be completed as a step towards the right direction.
The company plans to commit an amount of about $64 million into its clinical development endeavors. Acasti’s board of directors seems impressed about the current plans and has approved the transaction in question. Grace’s board of directors has also been supporting, voting in favor of the deal’s progression. The voices of the shareholders have been heard as well, considering that they voted in support of the company’s moves.
The deal’s approval and its significance
A lot has been achieved so far, but Acasti’s stockholders must express their stand concerning the deal. Those stockholders will need to vote in favor of the deal before further activities continue. The applicable stock exchanges also have a word towards striking the final deal and will also need to rule in favor of its progression.
Acasti has been pretty quick in posting an elaborate presentation that highlights all the important areas of the transaction. Anyone wanting to learn anything about the transaction will need to visit Acasti’s or Grace’s website.
Acasti discloses that it is willing to do anything to make the deal a success, part of that being filing the much-needed Form S-4 proxy statement. The company will make this filing with the U.S Securities & Exchange Commission.