Published on 22 Jun 2023 on Zacks via Yahoo Finance
Biotech Stock Roundup: DICE Gains on LLY Buyout, MRSN Down on Update & More
It was a busy week for the biotech sector. Mergers and acquisitions are back in the sector with the recent string of buyouts. Key regulatory and pipeline updates from bigwigs like GSK plc GSK were in the spotlight during the week.
Recap of the Week’s Most Important Stories:
DICE Up on LLY Buyout: Shares of clinical-stage biopharmaceutical company DICE Therapeutics, Inc. DICE surged on Jun 20 after pharma giant Eli Lilly LLY announced a definite agreement to acquire the former for $48 per share or $2.4 billion. The transaction is expected to be completed by the third quarter. The offer price of $48 represented a premium of 41% to DICE’s closing price of $33.85 on Jun 16.