Why Abivax Stock Was on Fire Today
France-based biotech Abivax (NASDAQ: ABVX) landed on many investors' buy lists on Monday, following a media report that a giant American peer was interested in acquiring it. With that considerable tailwind at its back, Abivax's share price zoomed nearly 21% higher across that day's trading session.
According to a widely disseminated article in French periodical La Lettre, that interested party is none other than American pharmaceutical king Eli Lilly. According to the article, Eli Lilly representatives met with French Treasury officials to gauge the regulatory requirements for acquiring Abivax.
Image source: Getty Images.
Source Fool.com
