11:25 AM EDT, 08/07/2024 (MT Newswires) -- G1 Therapeutics ( GTHX ) has agreed to be acquired by Pharmacosmos unit Pharmacosmos Therapeutics for $7.15 per share in cash for a total equity value of about $405 million, the companies said Wednesday.

The deal consideration represents a 68% premium to G1 Therapeutics' ( GTHX ) Tuesday closing stock price, the companies said.

The deal is expected to close late in Q3 after which G1 Therapeutics' ( GTHX ) common stock will no longer be publicly listed.

G1 Therapeutics ( GTHX ) shares were up more than 66% in recent trading.

Price: 7.08, Change: +2.83, Percent Change: +66.47