Lisata Therapeutics shares surge 20.57% after-hours as Kuva Labs agrees to acquire company for $5.00 per share plus $1.00 CVR.

Lisata Therapeutics surged 20.57% in after-hours trading following the announcement of its acquisition by Kuva Labs. The deal offers shareholders $5.00 per share in cash plus a contingent value right (CVR) entitling them to an additional $1.00 if a New Drug Application for certepetide is filed or accepted within seven years. The all-cash structure and potential upside from the CVR, combined with the company’s board approval of the transaction, drove investor optimism. While a separate shareholder investigation into potential fiduciary breaches was disclosed, the acquisition terms—valuing shares at a premium to the $4.18 closing price—overshadowed concerns, fueling the sharp after-hours rally. The transaction, expected to close in Q2 2026, includes no financing conditions and a second-step merger to acquire remaining shares.