secwatch.observer — SEC 8-K summary
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Issuer:     Landos Biopharma, Inc. (—)
CIK:        0001785345
Form:       8-K
Filed at:   2024-05-23T23:59:59+00:00
Accession:  0001193125-24-146014
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.01, 3.01, 3.03, 5.01, 5.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AbbVie completes acquisition of Landos Biopharma for $20.42/share plus CVR up to $11.14
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- Aggregate closing cash consideration ~$137.5M; Landos shareholders receive $20.42 per share in cash plus one CVR per share.
- CVR entitles holders to up to $11.14 in cash upon initiation of first Phase 3 trial of NX-13 for ulcerative colitis by March 31, 2029.
- Landos' lead asset NX-13 is a first-in-class oral NLRX1 agonist in Phase 2 for moderate to severe UC (NEXUS study).
- Landos' directors resigned and CEO/executive officers left; company becomes wholly owned subsidiary of AbbVie.
- Landos common stock to be delisted from Nasdaq before market open on May 24, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1785345/000119312524146014/0001193125-24-146014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1785345/000119312524146014/d815685d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-146014

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