Reata Pharmaceuticals, Inc. (Nasdaq: RETA) Achieves New 52-Week High, Soars Over 689%


Reata Pharmaceuticals, Inc. (Nasdaq: RETA) is on an impressive trajectory, reaching a new 52-week high and surging over 689% from its previous 52-week low. This remarkable performance comes on the heels of an exciting development – the approval by stockholders of the company's merger with Biogen Inc., a global biopharmaceutical company focused on novel therapies for severe diseases.

At a special meeting held recently, preliminary results indicated overwhelming support for the merger, with approximately 99.65 percent of votes cast by the Company's Class A and Class B common stockholders, voting as a single class, in favor of the acquisition. This represents a substantial 87.99 percent of the total voting power of the shares entitled to vote at the special meeting. The merger is set to close on September 26, 2023, marking a significant milestone in Reata's journey.

To see what Wall Street is saying about Reata Pharmaceuticals, Inc. (Nasdaq: RETA) click here:

Warren Huff, Chairman, and Chief Executive Officer at Reata Pharmaceuticals, Inc. (Nasdaq: RETA), expressed gratitude to the stockholders for their strong support and emphasized the significance of the merger: "We believe the acquisition by Biogen will significantly advance Reata’s vision of developing and delivering novel therapies to patients with rare diseases."

Reata Pharmaceuticals, Inc. (Nasdaq: RETA) is a global biopharmaceutical company with a resolute commitment to developing and commercializing innovative therapeutics for patients facing serious or life-threatening diseases that often lack approved treatments. The company's focus revolves around molecular pathways involved in the regulation of cellular metabolism and inflammation.

Notably, Reata has already made a significant mark in the pharmaceutical industry with the development of the first and only FDA-approved product for Friedreich’s ataxia. Additionally, the company is actively involved in the development of cemdomespib, an investigational drug for diabetic neuropathic pain treatment, and Nrf2 activators targeting neurological diseases.

As Reata Pharmaceuticals (Nasdaq: RETA) continues to make strides and hit new milestones, its dedication to addressing unmet medical needs and improving patients' lives remains unwavering.


To see what Wall Street is saying about Reata Pharmaceuticals, Inc. (Nasdaq: RETA) click here: