On Wednesday, in the course of current trade, Shares of Synageva BioPharma Corp. (NASDAQ:GEVA), skyrocketed 113.84%, and is now trading at $205.01, hitting its highest level, on the news that the company agreed to be attained for cash and stock worth $230 a share by Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN).
According to Bloomberg, Alexion Pharmaceuticals Inc. agreed to buy Synageva BioPharma Corp. for $8.4 billion in cash and stock, expanding its collection of treatments for rare diseases to reduce its dependence on a single drug.
Shares of Alexion fell the most in five years as analysts questioned whether it was overpaying. The transaction values Synageva at $230 a share, based on Alexion’s average closing price for the past nine days, the companies said in a statement. That’s more than twice Synageva’s closing price of $95.87 on Tuesday.
Synageva BioPharma Corp. operates as a biopharmaceutical company in the United States. It focuses on the discovery, development, and commercialization of therapeutic products for patients with rare diseases.
During an Afternoon trade, Shares of PlasmaTech Biopharmaceuticals, Inc. (NASDAQ:PTBI), spikes 63.65%, and is now trading at $9.81.
Today, PlasmaTech Biopharmaceuticals declared that it has reached a definitive agreement to acquire Abeona Therapeutics, a company engaged in the development and commercialization of therapies for patients with lysosomal storage diseases. Under the terms of the agreement, the Company will issue to Abeona Therapeutic members a total of 3,979,761 common shares upon closing of the transaction, and up to an additional $9 million in performance milestones, in common stock or cash, at the Company’s option.
The Board of Directors of PlasmaTech Biopharmaceuticals and the Managers of Abeona have unanimously approved the transaction. The transaction is predictable to close in the second quarter of 2015, subject to customary closing conditions.
PlasmaTech Biopharmaceuticals, Inc., a biopharmaceutical company, develops protein biologic therapies and oncology supportive care products. The company’s marketed product comprises MuGard the administration of oral mucositis; and ProctiGard for the treatment of radiation proctitis, a frequent side effect of radiation treatment to the pelvic region.
Shares of Fate Therapeutics, Inc. (NASDAQ:FATE), during its Wednesday’s current trading session surged 29.03%, and is now trading at $6.40, hitting its highest level.
Fate Therapeutics, and Juno Therapeutics, declared that they have executed a planned research partnership and license agreement to identify and utilize small molecules to modulate Juno’s genetically-engineered T cell product candidates to improve their therapeutic potential for cancer patients. The partnership brings together Juno’s industry-leading expertise in the development of chimeric antigen receptor (CAR) and T cell receptor (TCR) based cellular immunotherapies and Fate’s innovative platform for programming the biological properties and in vivo therapeutic potential of hematopoietic cells.
Through the four-year research and development collaboration, Fate will be responsible for screening and identifying small molecules that modulate the biological properties of engineered T cells. Juno will be responsible for the development and commercialization of engineered T cell immunotherapies incorporating Fate’s small molecule modulators. Juno has the option to extend the exclusive research term for two years through an additional payment and continued funding of partnership activities.
Fate Therapeutics, Inc., a clinical-stage biopharmaceutical company, discovers and develops programmed cellular therapeutics for the treatment of severe, life-threatening diseases. It has a platform to program the function and fate of cells ex vivo using pharmacologic modulators, such as small molecules.
Finally, Moneygram International Inc. (NASDAQ:MGI), soared 37.05% Wednesday.
MoneyGram International, stated financial results for its first quarter ending March 31, 2015.
Money Transfer Highlights
- Money transfer transaction growth was flat and revenue in the quarter was $286.8 million. This represented a decline in revenue of 12 percent on a stated basis and a 7 percent decline on a constant currency basis as contrast to the preceding year.
- Not taking into account U.S.-to-U.S. transactions originated at Walmart, money transfer transactions raised 13 percent and constant currency revenue growth was 6 percent.
- Money transfer results in the first quarter of 2015 reflect the continued strength in the Company’s U.S. Outbound and Non-U.S. send transaction growth, offset by the impact of its U.S.-to-U.S. pricing initiative implemented in 2014.
MoneyGram International, Inc., together with its auxiliaries, provides money transfer and payment services in the United States and internationally. The company operates in two segments, Global Funds Transfer and Financial Paper Products. The Global Funds Transfer segment provides money transfer and bill payment services primarily to unbanked and under banked consumers.
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