Lisata Therapeutics shares surge 19.86% premarket after announcing $5/share acquisition by Kuva Labs plus contingent value right.

Lisata Therapeutics Inc. (NASDAQ:LSTA) surged 19.86% in premarket trading following the announcement of a definitive agreement to be acquired by privately held Kuva Labs. Under the terms, shareholders will receive $5.00 per share in cash plus a contingent value right (CVR) worth up to $1.00 per share if regulatory milestones for certepetide are met within seven years. The $5.00 offer price represents a premium over Lisata’s $4.18 closing price, with the CVR adding potential upside, fueling optimism. The deal, approved by Lisata’s board after strategic review, is expected to close in Q2 2026 and includes no financing condition. While a shareholder lawsuit (Reason 2) questions board conduct, the acquisition’s structure and immediate cash value appear to have driven the sharp premarket increase.