Subsequent Event

6 Months Ended

Jun. 30, 2021

Subsequent Events [Abstract]

Subsequent Event

13. Subsequent Event

On August 2, 2021, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Sanofi S.A. and Vector Merger Sub, Inc., a Delaware corporation and an indirect wholly owned subsidiary of Sanofi S.A. (“Merger Sub”). On the terms and subject to the conditions of the Merger Agreement, Merger Sub will commence a cash tender offer (the “Tender Offer”) to acquire all of the outstanding shares of common stock of the Company for a purchase price of $38.00 per share, in cash, without interest and subject to any withholding of taxes required by applicable legal requirements. Following the completion of the Tender Offer, Merger Sub will merge with and into the Company, with the Company continuing as the surviving corporation and as an indirect wholly owned subsidiary of Sanofi S.A. The Merger Agreement is subject to customary closing conditions, and is anticipated to close in the third quarter of 2021. If the Merger Agreement is terminated by the Company under specified circumstances, the Company will be required to pay Sanofi S.A. a termination fee of $96.0 million.