Urogen jumps on takeover buzz

UroGen Pharma

01/05/2023 18:13

** U.S.-listed shares of Israeli drug developer Urogen
Pharma  URGN.O  rise as much as 16.5% to hit over 1-year-high of
$13.50
    ** Seeking Alpha cites a Street Insider report that the
company hired investment bank Centerview Partners after it
received a takeover offer for $17/share
    ** Report says the bank is likely conducting a sales process
with final bids due shortly
    ** Offer price represents a 46.7% premium to the stock's
last close on Friday
    ** YTD, stock up 40% including session's gains

 (Reporting by Nandhini Srinivasan in Bengaluru)
 ((nandhini.srinivasan@thomsonreuters.com))