We are 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 to discuss your legal rights at no charge by completing and submitting the form below.
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.