27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Privately-held Neurogene Inc has agreed to merge with Neoleukin Therapeutics Inc (NASDAQ:NLTX) in an all-stock transaction.
In March, Neoleukin Therapeutics engaged SVB Securities to assist in reviewing strategic alternatives and announced a further corporate restructuring to preserve cash, including reducing its workforce by approximately 70%.
The combined company will focus on advancing Neurogene's pipeline of genetic medicines, including NGN-401, a clinical-stage product for Rett syndrome.
Upon completion of the merger, the combined company is expected to operate under the name Neurogene Inc and trade on the Nasdaq Capital Market under the ticker symbol "NGNE."
Neurogene announced an oversubscribed $95 million private financing in connection with the merger.
The combined company is expected to have approximately $200 million of cash or cash equivalents immediately following the closing. The cash resources will be used to advance Neurogene's pipeline through multiple clinical milestones and are expected to fund operations into the second half of 2026.
The merger and concurrent private financing are expected to close in the fourth quarter of 2023.
Pre-merger Neoleukin stockholders are expected to own approximately 16% of the combined company, and pre-merger Neurogene stockholders are expected to own approximately 84%.
The combined company will be led by Rachel McMinn, Founder & CEO of Neurogene, and other members of the Neurogene management team.
Price Action: NLTX shares are down 6.19% at $0.87 during the premarket session on the last check Tuesday.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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