Alpine Immune surges on Vertex Pharma's $4.9 bln takeover

Alpine Immune Sciences

11/04/2024 10:52

** Shares of biotech firm Alpine Immune Sciences  ALPN.O 
surge 36.1% to $64 premarket, as Vertex Pharma  VRTX.O  set to
buy co for $4.9 bln
    ** Stock just shy of Vertex's offer price of $65/shr, which
represents a 67% premium to ALPN's Tuesday close, a day before
Bloomberg reported that it had received a takeover interest
    ** Vertex will gain access to ALPN's treatment for an
autoimmune disease of the kidney known as IgA nephropathy, which
affects about 130,000 people in the United States
    ** VRTX down 2% premarket
    ** APLN up nearly 147% YTD as of last close, while VRTX is
down 2.3%

 (Reporting by Pranav Kashyap in Bengaluru)
 ((Pranav.Kashyap@thomsonreuters.com;))