Why Aimmune Therapeutics Stock Is Soaring Today
Shares of Aimmune Therapeutics (NASDAQ: AIMT) jumped by an eye-popping 170% in pre-market trading Monday morning. The biotech's stock is screaming higher this morning in response to a $2.6 billion merger agreement -- on a fully diluted basis -- with Nestle's (OTC: NSRGY) Health Science division (a.k.a NHSc). The deal is expected to close in the fourth quarter of 2020.
Through this merger, NHSc will acquire the full commercial rights to Aimmune's Food and Drug Administration-approved peanut allergy drug Palforzia. This buyout represents a hefty 74% premium compared to where Aimmune's shares were trading upon market close last Friday.
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Source Fool.com
