Innoviva completes acquisition of Entasis Therapeutics for $2.20/share, total ~$42.4M

Innoviva, Inc.

Acquisition closed on July 11, 2022; Entasis becomes wholly-owned subsidiary of Innoviva.
Total consideration of approximately $42.4M paid for all outstanding shares tendered at $2.20 per share.
Entasis' pipeline includes SUL-DUR for Gram-negative bacteria; NDA submission planned for Q3 2022.
Entasis common stock to be delisted from Nasdaq Global Market following acquisition.
Innoviva funded the purchase from its own resources; deal creates new growth channel and diversifies revenue.

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