Why Is Phoenix Asia Stock (PHOE) Up Today?
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Phoenix Asia (PHOE) stock surged 85.2% on Friday, following a volatile week influenced by several announcements, including a significant stock exchange agreement with ACEA Pharma. Phoenix Asia will acquire 100% of ACEA Pharma for 100 million newly issued shares, valued at $1 billion. Post-deal, Phoenix Asia will be renamed ACEA Pharma, with ACEA Thera owning 82% of the new entity, which is expected to be listed on Nasdaq. The deal is anticipated to close by Q2 2026 and has unanimous board support.
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