Elevation Oncology Enters into Agreement to Be Acquired by Concentra Biosciences for $0.36 in Cash per Share Plus a Contingent Value Right

Core Viewpoint - Elevation Oncology has entered into a definitive merger agreement with Concentra Biosciences, where Concentra will acquire Elevation for $0.36 per share in cash, along with contingent value rights [1][2] Company Overview - Elevation Oncology is focused on developing selective cancer therapies for solid tumors with significant unmet medical needs [5] Merger Details - The merger agreement includes a cash payment of $0.36 per share and a non-tradeable contingent value right, which entitles shareholders to receive 100% of net cash exceeding $26.4 million and 80% of net proceeds from the disposition of EO-1022 within five years [1] - A wholly owned subsidiary of Concentra will commence a tender offer by June 23, 2025, to acquire all outstanding shares of Elevation's common stock [3] - The merger is expected to close in July 2025, subject to conditions including the tender of a majority of shares and the availability of at least $26.4 million in cash [3]