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Caribou Biosciences stock soars after Pfizer buys stock priced at a 31% premium

Clyde Edgerton by Clyde Edgerton
July 6, 2023
in Markets
Caribou Biosciences stock soars after Pfizer buys stock priced at a 31% premium
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Shares of Caribou Biosciences Inc. CRBU ran up 21.3% toward a three-month high in premarket trading Thursday, after the genome-editing biopharmaceutical company said drug giant Pfizer Inc. has made a $25 million equity investment in the company. Pfizer shares slipped 0.1% ahead of the open. Under terms of the investment, Pfizer bought 4.69 million Caribou shares, or about 7.6% of the shares outstanding. Pfizer paid $5.33 for each share purchased, representing a 30.6% premium to Wednesday’s closing price of $4.08. Caribou said it will use the proceeds from the investment to fund its CB-011 immune cloaked allogeneic CAR-T…



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