09:38 AM EDT, 09/05/2024 (MT Newswires) -- G1 Therapeutics ( GTHX ) and Pharmacosmos said Thursday the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, paving the way for the merger deal between the two companies to proceed.

Earlier this month Pharmacosmos unit Pharmacosmos Therapeutics agreed a deal to buy G1 Therapeutics ( GTHX ) for $7.15 per share in cash for a total equity value of about $405 million.

The tender offer, set to expire on Sept. 17, is still subject to other conditions, including the tendering of a majority of G1's shares, the companies said Thursday.

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