Verve Therapeutics soars on Eli Lilly's up to $1.3 billion deal

Verve Therapeutics

17/06/2025 12:16

Updates

** Genetic medicines developer Verve Therapeutics' VERV.O shares jump 76.7% to $11.08 in premarket trading

** Eli Lilly LLY.N to buy VERV for up to $1.3 billion

** Deal is expected to close in Q3

** LLY shares slip 1% to $800 before the bell

** Cautious on potential acquisition of Verve by Lilly, as we question the ultimate commercial viability of gene editing for primary care conditions, BMO Capital Markets says

** Brokerage adds "while the proposed deal size is low relative to Lilly's investment firepower, we think there may be better uses of capital for the company at this time"

** VERV, which had a market cap of about $559 million, is up ~11% YTD through last close

 (Reporting by Joel Jose and Sriparna Roy in Bengaluru)

 ((joeljose@thomsonreuters.com;))