Regeneron buying small cap Decibel Therapeutics for $4 a share

Regeneron Pharmaceuticals Inc.
REGN,
+0.72%
said Wednesday it would pay $4 a share for Decibel Therapeutics Inc.
DBTX,
+1.09%,
a 43% premium over its closing price of $2.79 a share in the previous session. Boston-based Decibel Therapeutics is a clinical-stage biotechnology company with a focus on discovering and developing transformative treatments to restore and improve hearing and balance. Regeneron’s acquisition price values Decibel Therapeutics at $109 million. Decibel Therapeutics stock is up 36% so far in 2023, compared to a 32.7% increase by the Nasdaq.