Reported about 7 hours ago
Avidity Biosciences shares skyrocketed by over 40% after Novartis announced its intention to acquire the company for $12 billion, offering $72 per share—a 46.5% premium to its previous closing price. This acquisition will enhance Novartis's RNA-based therapy pipeline, providing access to vital experimental treatments for neuromuscular diseases. Dyne Therapeutics also saw a significant rise in shares, benefiting from the positive market sentiment towards RNA therapies propelled by this deal.
Source: YAHOO