Gilead Rises with Acquisition, Novo Nordisk GLP1 Drops, Domino's Cooks
Today's biggest winners and losers in the stock market. On this episode of Stock Movers: - Gilead Sciences Inc. agreed to buy US cancer-focused biotech Arcellx Inc. for as much as $7.8 billion as it seeks to boost its drug pipeline. Gilead, which owns 11.5% of Arcellx’s outstanding stock, will pay $115 per share in cash, with a contingent payment of $5 per share dependent on future sales, it said Monday. The price is almost double Arcellx’s Friday closing price. Shares of Arcellx rose as much as 78% to $114.18 in premarket trading in New York, while Gilead’s stock slipped…
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