Biopharma stock jumps on acquisition announcementShares of New Jersey-based Pharmacopeia pharmacopeia /phar·ma·co·pe·ia/ (-ko-pe´ah) an authoritative treatise on drugs and their preparations. See also USP. pharmacopei´al United States Pharmacopeia see under U. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : PCOP PCOP Plasma Colloid Osmotic Pressure PCOP Phurst Church of Phun (audience participation humor experience) PCOP Palliative Care Outreach Program (Ottawa, Ontario, Canada) , Stock Forum) soared more than 23% to $1.47 Thursday after Ligand ligand (lĭg`ənd), charged or uncharged molecule with one or more unshared pairs of electrons that can attach to a central metallic atom or ion to form an aggregate known as a complex ion (see chemical bond). Pharmaceuticals (NASDAQ: LGND LGND Luminance Ground , Stock Forum) announced after Wednesday’s market close that it has entered into a definitive merger agreement to acquire the company in a deal valued up to $70 million. The transaction is structured as a stock-for-stock exchange and under the terms of the agreement, Ligand will issue approximately 17.5 million shares, or 0.58 shares for each outstanding Pharmacopeia share. Current Ligand stockholders would own approximately 84% of the combined company and Pharmacopeia stockholders would own 16%. Pharmacopeia stockholders will also receive contingent value rights under which they could receive an aggregate $15 million cash payment if Ligand enters into a license, sale, development, marketing or option agreement with respect to its DARA program by December 31, 2011. The companies say the transaction is expected to close by the first quarter of 2009. 
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