24/7 Market News Snapshot 09 June, 2025 – Elevation Oncology, Inc. Common stock (NASDAQ:ELEV)

June 9, 2025

DENVER, Colo., 09 June, 2025 (www.247marketnews.com) – (NASDAQ:ELEV) are discussed in this article.
Elevation Oncology, Inc. (ELEV) is currently experiencing notable momentum in the pre-market session, trading at $0.408, which represents a substantial increase of over 27.54% from the previous close of $0.320. This impressive uptrend highlights robust investor interest and optimism regarding the company’s future in precision medicine for cancer treatment. With a considerable trading volume of 8.01 million shares, ELEV is drawing significant market attention. Technical indicators suggest a positive trajectory, making this a pivotal time for investors considering Elevation Oncology’s growth potential.

Additionally, the company recently announced a significant merger agreement with Concentra Biosciences, LLC, aiming to enhance its position in the oncology sector and broaden its market reach. The agreement stipulates that Concentra will acquire Elevation Oncology for $0.36 per share in cash, along with a non-tradeable contingent value right (CVR). This CVR is designed to allow shareholders to share in future net proceeds arising from specified assets.

Elevation Oncology’s Board of Directors has unanimously approved this strategic move, asserting that it serves the best interests of shareholders. A subsidiary of Concentra is anticipated to initiate a tender offer by June 23, 2025, to acquire all outstanding shares of common stock, contingent on achieving a majority tender response from shareholders.

The transaction is expected to close in July 2025, subject to the fulfillment of conditions laid out in the Merger Agreement. Moreover, key officers, directors, and affiliates of Elevation Oncology, holding approximately 5.1% of its common stock, have already committed their support by entering into tender agreements. This merger positions Elevation Oncology for significant growth while aligning with its mission to deliver innovative cancer therapies addressing critical unmet needs within the market. All eyes remain on Elevation Oncology as this exciting development unfolds.

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