Regulus Therapeutics' stock price doubles on Novartis's buyout offer

Regulus Therapeutics

30/04/2025 15:41

Updates

** Shares of drug developer Regulus Therapeutics RGLS.O more than double to over 3-year high of $7.93

** Stock set for biggest single-day pct gain on record

** Novartis NOVN.S is buying Regulus for up to $1.7 bln to gain access to an experimental kidney disease drug called farabursen

** Deal includes an upfront payment of $7 per share in cash, or about $800 million, and another $7 per share if farabursen gets regulatory approval

** Deal expected to close in H2 2025

** Including session move, stock up nearly 5-fold YTD

(Reporting by Christy Santhosh and Kamal Choudhury)

((Christy.Santhosh@thomsonreuters.com))