Stock Track | Apellis Pharmaceuticals Soars 140.96% in Pre-Market on $5.6 Billion Biogen Acquisition
Stock Track03-31
Apellis Pharmaceuticals Inc. (APLS) experienced a significant pre-market surge of 140.96%, following news of a major acquisition.
The dramatic price movement is directly attributed to Biogen's announcement that it has agreed to acquire Apellis for approximately $5.6 billion. The deal offers $41.00 per share in cash, which represents a substantial premium of more than double the company's recent closing price.
This acquisition is expected to bolster Biogen's portfolio in immunology and rare diseases, particularly enhancing its nephrology franchise. Apellis brings with it two approved drugs, Syfovre and Empaveli, which generated significant revenue last year.
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