The conditional value of AstraZeneca’s $5 per share is the right (NASDAQ:AZN) Plans $1.1 billion acquisition of Icosavax (NASDAQ:ICVX) is based on FDA approval and select sales metrics for RSV vaccine candidate IVX-A12.
CVR of $4 per share is based on FDA The companies will approve IVX-A12, a vaccine incorporating IVX-A12 or a vaccine covered by the company’s patents before the sixth anniversary of the effective date of the merger, according to a filing late Tuesday.
The CVR of $1 per share is based on the selling entity achieving net sales of $200 million for all products in the European Union, the United Kingdom, and Canada prior to the seventh anniversary of the effective date of the merger.
AstraZeneca previously agreed to acquire U.S. vaccine developer Icosavax (ICVX) in a deal worth up to $1.1 billion. The transaction values Icosavax at $15 per share in cash upon closing, plus up to $5 per share in non-tradable CVR or cash upon the achievement of certain milestones.
Icosavax (ICVX) stock rose 50% following the acquisition announcement on Tuesday.