Crinetics Pharmaceuticals Shares Surge Over 99% on $10 Billion Acquisition Deal with Vertex
Crinetics Pharmaceuticals (NASDAQ:CRNX) shares surged over 99%, reaching $83.54, following a unanimous board-approved all-cash acquisition by Vertex Pharmaceuticals at $85 per share, valued at approximately $10 billion. The deal centers on Crinetics' endocrine franchise, including FDA-approved drug PALSONIFY and Phase 3 candidate atumelnant, with projected peak annual sales exceeding $5 billion.
Tickers: $CORT $CRNX $NBIX $VRTX