Shares of Dyax Corp. (DYAX) spiked up by more than 34% on Monday after Shire Plc agreed to buy the U.S.-based biotech firm for about $5.9 billion. Dyax specializes in the development of treatments for HAE, a rare genetic inflammatory disease which causes episodes of swelling in the face, limbs and gastrointestinal tract.
“This highly complementary transaction aligns with and accelerates our strategy to build a global leading biotechnology company focused on rare diseases and specialty conditions,” said Shire CEO Flemming Ornskov, in a statement. ” It adds to our portfolio of best-in-class therapies addressing unmet needs in our core therapeutic areas, expanding and extending our leadership position in HAE. We have closely followed DX-2930’s progress in the evolving HAE landscape for some time, and we admire the work of the Dyax team in moving this next-generation therapy forward.”
The offer price of $37.30 per share represents a 35.5% premium to Dyax’s $27.53 closing stock price on Friday.
Shares of Constant Contact, Inc. (CTCT) are higher by nearly 21% to $31.50 in pre-market trading on Monday after Endurance International Group Holdings Inc , which makes cloud-based software, announced its plans to buy the online marketer for about $1.1 billion in cash.
Endurance Int’l offer of $32 per Constant Contact share represents a 22.6% premium to the stock’s close on Friday.
Shares of Visa Inc. (V) are down $1.20, or 1.55%, at $76.40, after the company this morning said it would acquire former subsidiary Visa Europe for $18.19 billion, with the potential for an additional payment of up to $5.17 billion.
Shares of Chipotle Mexican Grill, Inc. (CMG) are lower by 4.25% to $613 in pre-market trading on Monday following a Bloomberg report that said the Denver, Colorado.-based company closed 43 restaurants in Seattle and Portland, Oregon, as health officials are investigating an E. coli outbreak linked to Mexican food chain.
Acadia Pharmaceuticals Inc. (ACAD) gained 7.70% ahead of the bell on news the company’s New Drug Application for NUPLAZID has been accepted for review by the FDA and the agency has granted it Priority Review. Acadia is seeking FDA approval of NUPLAZID for the treatment of psychosis associated with Parkinson’s disease. The FDA granted NUPLAZID Breakthrough Therapy designation for this indication in 2014.
SunEdison, Inc. (SUNE) – The renewable energy development company announced that it has signed a power purchase agreement with Bloomberg, to power the company’s Rockland County, New York-based data center with 2.9 megawatts DC of solar energy. Separately, SunEdison plans to report third quarter 2015 financial results on Monday, November 9, 2015.