Aptorum Group Stock Soars 253% On Merger Deal With DiamiR Biosciences

(RTTNews) - Aptorum Group Limited (APM) surged 253.68 percent to $3.43 after announcing a definitive all-stock merger agreement with DiamiR Biosciences, a developer of blood-based tests for brain health and other diseases. APM opened at $1.34 and traded between $1.18 and $4.42 on heavy volume of 143.7 million shares versus an average of 50,798 on the Nasdaq. The stock's 52-week range is $0.46 to $7.49. Under the terms, DiamiR will become a wholly owned subsidiary, with its shareholders owning about 70 percent of the combined company, while Aptorum shareholders retain 30 percent. The combined entity will remain listed on Nasdaq, re-domicile to Delaware, and be headquartered in Princeton, New Jersey.