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iTeos Therapeutics Completes Merger with Concentra Biosciences, Shares Delisted from Nasdaq
ByAinvest
Friday, Aug 29, 2025 10:19 am ET1min read
iTeos Therapeutics completed a merger with Concentra Biosciences, resulting in iTeos becoming a wholly owned subsidiary of Concentra. The merger was executed without a stockholder vote and iTeos' shares were delisted from Nasdaq. Analyst rating is a Hold with a $11.00 price target. The merger offers some optimism but strategic challenges and negative financials weigh heavily.
iTeos Therapeutics Inc. has completed its merger with Concentra Biosciences, becoming a wholly owned subsidiary of the latter. The merger, announced on July 21, 2025, was executed without requiring a stockholder vote. As a result, iTeos' shares were delisted from Nasdaq, marking a significant change in the company's market presence and operational structure [1].The merger has been greeted with mixed reactions from analysts. The most recent analyst rating on iTeos' stock is a Hold with a $11.00 price target [2]. Spark, TipRanks' AI Analyst, also rated iTeos as Neutral, noting that while the merger offers some optimism, strategic challenges and negative financials weigh heavily [2].
The merger comes at a time when iTeos is facing several challenges. The company has been involved in collaborations with major pharmaceutical companies, including GlaxoSmithKline, for the development of experimental cancer therapies. However, it has also faced setbacks, such as the termination of a collaboration agreement in 2025 [3].
Despite these challenges, the merger with Concentra Biosciences could provide iTeos with new opportunities. Concentra is a biopharmaceutical company focused on developing innovative cancer treatments. The merger could lead to enhanced research capabilities and potential access to new markets.
In conclusion, the merger of iTeos Therapeutics with Concentra Biosciences represents a significant event in the biotechnology sector. While the merger offers some optimism, it is crucial for investors to closely monitor the company's strategic challenges and financial health.
References:
[1] https://www.marketwatch.com/investing/stock/itos
[2] https://www.tipranks.com/news/company-announcements/iteos-therapeutics-completes-merger-with-concentra-biosciences
[3] https://www.marketwatch.com/investing/stock/itos
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