However, if its COVID-19 data confirmation study's results are deemed unsatisfactory, Pfizer's bid will drop to $127 million.
Right now, ResApp shares are halted at their previous closing price of 17.5 cents each.
Let's take a closer look at what's going on with ResApp on Monday.
The ResApp share price is in the freezer on Monday
The ResApp share price has been halted on Monday as the market awaits results from a clinical validation study.
The study will determine if the company's technology can detect COVID-19 by analysing audio of a patient's cough as accurately as previous studies have found.
A previous pilot study found the technology – dubbed COVID Algorithm – performs with 92% sensitivity and 80% specificity.
Pfizer will offer ResApp shareholders 20.7 cents for each share they hold if the soon-to-drop results find the COVID Algorithm performs with a sensitivity of at least 86% and specificity of at least 71%.
Pfizer has also ordered the results be confirmed by an independent statistician.
If the study fails to meet the above criteria, Pfizer will offer shareholders just 14.6 cents per share.
The 20.7 cent per share bid represents a 130% premium on ResApp's close as of 8 April. The 14.6 cent per share bid represents a premium of 62.2% on the same close.
The ResApp share price is expected to remain frozen until the results' release or Wednesday's open, whichever comes first.
The company noted it's expecting to return to trade on the announcement of the results.
The ResApp share price has gained 169% over 2022 so far. It's also 280% higher than it was this time last year.