eqrxs shares look set to jump at the opening bell after it agreed to be acquired by clinicalstage oncology company revolution medicines in premarket trading the shares jumped 20 after ending monday at 171 down 30 so far this year revolution fell 1 after ending monday at 2625 up 10 yeartodate under the agreement revolution will buy eqrx for stock the number of shares will be based on an exchangeratio formula equal to about 77 million revolution shares plus shares equal to 870 million divided by a price that is a 6 discount to the fiveday weighted average of revolutions share price closer to the vote the companies said that eqrx shareholders representing more than 40 of voting shares have agreed to support the deal which is expected to close by november the acquisition comes after eqrx in may laid out plans to reset its business to focus on a pipeline of therapies with a streamlined organization that has lower cash burn supported by 13 billion in cash cash equivalents and shortterm investments eqrx recorded a loss of 826 million in the first quarter of the year