May 1, 2017 / 8:36 PM / 4 months ago

BRIEF-Nivalis Therapeutics enters into merger agreement with Alpine Immune Sciences

May 1 (Reuters) - Nivalis Therapeutics Inc:

* Nivalis Therapeutics reports first quarter 2017 financial results

* Q1 loss per share $0.57

* Nivalis Therapeutics -increased loss for quarter due to $3.5 million in restructuring charges and a $2.0 million increase in stock-based compensation expenses

* Nivalis Therapeutics -after a review and negotiation with alpine immune sciences, board decided to approve and enter definitive merger agreement with Alpine

* Nivalis -Frazier Healthcare Partners, Alpine Bioventures, Orbimed Advisors, will invest combined additional $17 million into alpine immune sciences prior to close

* Nivalis -following merger, Alpine shareholders will own about 74 percent of combined co and nivalis shareholders will own about 26 percent of combined co

* Nivalis -Mitchell Gold., alpine's executive chairman and ceo , will become chairman and ceo of combined company

* Nivalis Therapeutics Inc says following merger, board of directors of combined company will expand to seven seats Source text for Eikon: Further company coverage:

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