Lisata Therapeutics shares surge 19.38% after-hours after agreeing to be acquired by Kuva Labs for $5.00 per share plus $1.00 CVR.

Lisata Therapeutics surged 19.38% in after-hours trading following the announcement of its acquisition by Kuva Labs. The all-cash deal values shares at $5.00 each plus a contingent value right (CVR) offering an additional $1.00 per share if regulatory milestones for certepetide are met. The transaction, approved by Lisata’s board after a strategic review, includes a premium over its $4.18 closing price and a structured payout mechanism tied to future regulatory progress. While a shareholder investigation by Ademi LLP raised concerns about fiduciary duties and deal terms, the immediate price reaction reflects optimism over the liquidity event and potential upside from the CVR. The acquisition, expected to close in Q2 2026, drives the after-hours rally as investors price in the agreed premium and contingent value.