Shares of Imara (NASDAQ: IMRA) popped on Friday in morning trading after the company announced its merger with Enliven Therapeutics, a clinical-stage precision oncology company.
Imara is focused on the development and commercialization of novel therapeutics to treat patients suffering from serious diseases.
This merger is expected to create a publicly-listed clinical-stage biopharmaceutical company that will be focused on advancing Enliven’s portfolio of precision oncology programs.
The combined company is expected to have a cash balance of around $300 million at the close of the merger. This merger is expected to “provide cash runway through multiple clinical milestones and into early 2026.”
The merger is expected to close in the first quarter of next year.
