Shares of OptiNose (NASDAQ:OPTN) climbed ~61% in the premarket on Thursday after the specialty pharmaceutical company agreed to be acquired by antibiotic drugmaker Paratek Pharmaceuticals in a take-private deal worth up to $330M.

Per the deal terms, privately held Paratek will acquire OptiNose’s (NASDAQ:OPTN) outstanding shares for $9 per share in cash in addition to a contingent value right worth $5 per share, subject to certain sales milestones achieved by OPTN’s lead asset Xhance.

The upfront consideration of $9 per share implies a 50% premium to Wednesday’s closing share price of Yardley, Pennsylvania-based OptiNose (NASDAQ:OPTN).

After approving Xhance in 2017 to treat chronic rhinosinusitis (CRS) with nasal polyps, the FDA broadened the drug-device combination’s label last year to include CRS patients without nasal polyps, increasing its addressable market by about ten times.

The transaction, expected to close in mid-2025, is funded by entities including Novo Holdings, the investment arm of Novo Nordisk’s (NVO) controlling shareholder, which joined the private investment firm B-FLEXION in 2023 to acquire Paratek.