PFIZER BOOSTS RESAPP BID

GLOBAL pharmaceuticals giant Pfizer has increased its bid to acquire 100 per cent of the shares in Brisbane-based ResApp Health.

ResApp said the deal struck with Pfizer would see the USbased company increase its offer from 11.5c per share to 20.7c per share in cash, upon satisfaction of a confirmatory data readout condition.

The offer price will be 14.6c per share in cash if that condition is not met.

ResApp has an app that checks Covid-19 symptoms.

Shares in ResApp have been in a trading halt since late May pending an update on the announcement.

Stock soared 50 per cent, or 5.5c, to 16.5c on Tuesday when they were reinstated.

ResApp’s CEO said the board was pleased with the renegotiated agreement.

“We believe that it represents significant value for all shareholders,” he said.