StemCell Therapy

Shares of gene therapy biotech companies vaulted higher Thursday on rumors the U.S. Federal Trade Commission cleared Roche's (RHHBY) takeover of Spark Therapeutics (ONCE).

On the stock market today, Spark stock rocketed 7.5%, to 108.64, in huge volume, after Twitter exploded with rumors the deal had passed FTC muster. Shares of Uniqure (QURE), often seen as a prime takeover candidate among gene therapybiotech companies, popped 8.3%, to 46.02.

Roche announced its $4.8 billion takeover of Spark in February. The deal was expected to close in the second quarter, but has since been mired in regulatory discussions.

In June, Roche said it and Spark received requests for additional information regarding the proposed transaction from the FTC and the U.K. Competition and Markets Authority. At the time, most believed the deal would close in July.

Earlier this month, the Swiss drugmaker confirmed its plan to buy Spark before year's end.

Representatives of Roche and Spark declined to comment in emails to Investor's Business Daily.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

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Biotech Companies In Gene Therapy Launch On Rumors Roche Clinched Takeover Of Spark - Investor's Business Daily

This entry was posted on October 29, 2019 at 2:45 pm and is filed under Gene therapy. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed. |