공시 • Dec 02
Renovacor Requests NYSE to Remove its Shares from Listing On December 1, 2022 (the Closing Date"), Rocket Pharmaceuticals, Inc. ("Rocket" or Parent"), completed the previously announced acquisition of Renovacor, Inc., a Delaware corporation ("the Company," Renovacor") pursuant to the Agreement and Plan of Merger, dated as of September 19, 2022 (the Merger Agreement"), by and among Rocket, Renovacor, Zebrafish Merger Sub, Inc., a Delaware corporation and a direct, wholly owned subsidiary of Rocket (Merger Sub I"), and Zebrafish Merger Sub II, LLC, a Delaware limited liability company and a direct, wholly owned subsidiary of Rocket (Merger Sub II"). On December 1, 2022, in connection with the consummation of the Mergers, the Company (i) notified The New York Stock Exchange American LLC (the NYSE") of the consummation of the Mergers and (ii) requested that the NYSE remove Company Shares and the Company Public Warrants from listing and file a Form 25 with the SEC to report the delisting of the Company Shares and Company Public Warrants from the NYSE. Upon effectiveness of the Form 25, the Company intends to file with the SEC a Certification and Notice of Termination on Form 15 with the SEC to suspend Renovacor's reporting obligations under Sections 13 and 15(d) of the Securities Exchange Act of 1934, as amended. Price Target Changed • Nov 16
Price target decreased to US$11.53 Down from US$14.20, the current price target is an average from 3 analysts. New target price is 252% above last closing price of US$3.28. The company is forecast to post a net loss per share of US$1.55 next year compared to a net loss per share of US$1.41 last year. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chairman, President & CEO Magdalene Cook was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. 공시 • Sep 22
Rocket Pharmaceuticals, Inc. (NasdaqGM:RCKT) entered into a definitive agreement to acquire Renovacor, Inc. (NYSEAM:RCOR) from RTW Investments, LP and others for $46.7 million. Rocket Pharmaceuticals, Inc. (NasdaqGM:RCKT) entered into a definitive agreement to acquire Renovacor, Inc. (NYSEAM:RCOR) from RTW Investments, LP and others for $46.7 million on September 19, 2022. Under the terms of the transaction, Renovacor shareholders will receive approximately 0.1676 shares of Rocket in exchange for each of their shares in Renovacor and are expected to own approximately 4.6% percent of Rocket equity on a fully diluted basis immediately following the closing of the transaction. The exchange ratio implies an equity deal value of approximately $53 million based on fully diluted shares outstanding and the acceleration and vesting of all earnout shares, or $2.60 per share of Renovacor. The exchange ratio is subject to adjustment based on Renovacor net cash at closing. Rocket shall pay a termination fee of $1.74 million to Renovacor and Renovacor shall pay a termination fee of $1.74 million to Rocket. RTW Investments, LP, a significant shareholder of both Rocket and Renovacor, has entered into a voting agreement with Renovacor, pursuant to which they have agreed, among other things, and subject to the terms and conditions of the agreement. The deal is subject to approval by Renovacor and Rocket shareholders, receipt of any required customary regulatory approvals, the required approvals by Rocket’s and Renovacor’s stockholders, the Rocket Shares to be issued in the First Merger being approved for listing on Nasdaq as of the closing, the Registration Statement having become effective, the waiting period under the HSR Act shall have expired or been terminated and the satisfaction of other customary closing conditions. The boards of directors of both companies have unanimously approved the transaction, which is currently expected to close by the first quarter of 2023. SVB Securities is serving as exclusive financial advisor and fairness opinion provider and John T. Haggerty, William D. Collins and Sarah Ashfaq of Goodwin Procter LLP is serving as legal counsel to Rocket. Wells Fargo Securities is serving as exclusive financial advisor and fairness opinion provider and Rachael Bushey and Jennifer Porter of Troutman Pepper Hamilton Sanders LLP is serving as legal counsel to Renovacor. 공시 • Jul 13
Renovacor Announces Pipeline Expansion with New Research Program for Multiple Genetic Segments of Arrhythmogenic Cardiomyopathy Renovacor, Inc. announced it has expanded its pipeline to advance an AAV gene therapy program as a potential precision therapy for three genetic segments of arrhythmogenic cardiomyopathy (ACM). To accelerate this new program, Renovacor has entered into a research collaboration with the University of Utah’s Nora Eccles Harrison Cardiovascular Research and Training Institute (CVRTI). The terms of the research agreement grant Renovacor an option for an exclusive license to inventions generated from the collaboration. The research collaboration will focus on a protein discovered by University of Utah scientists that has the potential to address multiple genetic segments of ACM. The new program is being developed as an AAV-based gene therapy to treat potentially life-threatening arrhythmias associated with the disease by restoring gap junction protein trafficking and gap junction communication between heart muscle cells. The program will be developed for the three largest genetic segments of ACM: plakophilin-2 (PKP2), desmoglein-2 (DSG2), and desmoplakin (DSP) associated ACM. Currently available treatment options do not address the trafficking defects central to each of the these genetically-driven forms of ACM. The collaboration leverages positive proof-of-concept data generated in a genetic mouse model of ACM that was performed by the Shaw Lab, led by Robin Shaw, M.D., Ph.D., Professor of Medicine at the University of Utah and Director of the CVRTI. These data demonstrate restoration of gap junction trafficking to the intercalated disc and a significant reduction in premature ventricular contractions (PVCs). PVCs are a hallmark of ACM and key drivers of potentially lethal ventricular arrhythmias. Arrhythmogenic cardiomyopathy (ACM) is a heritable heart muscle disorder that can affect the left and right ventricle. It is characterized by a heightened risk of potentially lethal ventricular arrhythmias, fibrofatty replacement of myocardial tissue, and in some patients, heart failure.(1,2) It is recognized as a disease of the desmosome, with well-defined genetic drivers. The prevalence of ACM is estimated to range from 1 case in 1,000 persons to 1 case in 5,000, with an average age of diagnosis of approximately 30 years.(1-3) Current treatment options aim to prevent potentially life-threatening arrhythmias and progression to end-stage disease, but they do not target the underlying genetics or disease biology and, as such, patients can continue to experience serious breakthrough events. 