MONSEY, N.Y., Jan. 08, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the price of $23.00 per share in cash pursuant to which Harpoon Therapeutics, Inc. (Nasdaq: HARP) (“Harpoon”) has agreed to be sold to Merck & Co., Inc. (“Merck”). The sales price is below the price target of $30.00 per share of Wall Street analyst William Maughan at Canaccord Genuity.
If you remain a Harpoon shareholder and question the fairness of the price, you may contact our firm at the following link to discuss your legal rights at no charge:
https://wohlfruchter.com/cases/harpoon-therapeutics/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On January 8, 2024, Harpoon announced that it had agreed to be sold for $23.00 per share in cash to Merck.
“We are investigating whether the Harpoon Board of Directors acted in the best interests of Harpoon shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to Harpoon shareholders, as well as whether all material information regarding the transaction has been fully disclosed.”
Notably, according to TipRanks, the sales price of $23.00 per share is below the price target of William Maughan at Canaccord Genuity for Harpoon of $30.00 per share based on, among other factors, Harpoon’s promising drug pipeline, including (i) the company’s ‘328 asset which recently presented compelling data at ESMO23 showing encouraging response rates observed in both SCLC and other neuroendocrine tumor types, with efficacy data appearing to match that of competitor Amgen’s tarlatamab, and (ii) the company’s HPN217 asset for relapsed/refractory multiple myeloma, which is set to present an abstract with detailed results of the Phase 1 dose escalation study in December.
About Wohl & Fruchter
Wohl & Fruchter LLP has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
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