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Why Synthorx Stock Is Soaring Today

TheMotleyFool

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Why Synthorx Stock Is Soaring TodayPhoto, wide shot, wide-angle lens, Clinical research organization, sunset photo at golden hour, photo by Peter Lik: https://img.midjourneyapi.xyz/temp/02f7778c-d723-4fb3-bdef-fabb7e5fc9c8.png

Shares of the clinical-stage biotech Synthorx (NASDAQ: THOR) jumped by an eye-popping 169% right out of the gate Monday morning. What's behind this enormous spike?

Synthorx's stock is on fire today in response to an all-cash buyout agreement with French pharma giant Sanofi (NASDAQ: SNY) for $68 per share. On a fully diluted basis, the total equity value of this buyout works out to a hefty $2.5 billion.

Image source: Getty Images.

Source Fool.com

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