Harpoon Therapeutics surges after Merck's buyout report

Harpoon Therapeutics

08/01/2024 10:50

** Shares of cancer therapy developer Harpoon Therapeutics
 HARP.O  doubles to $21.10 premarket 
    ** U.S. drugmaker Merck & Co  MRK.N  is in advanced talks to
buy HARP for around $700 million, Bloomberg News reports
    ** MRK is in talks to pay about $23 per HARP share,
representing 118% premium to HARP's last close of $10.55 
    ** A deal could be announced within days if talks don't fall
apart, the report added
    ** MRK and HARP did not immediately respond to Reuters
requests for comment 
    ** HARP stock has risen 56.6% in 2023, while MRK fell 1.7% 

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))