DAWN Biopharmaceuticals Inc. ( NASDAQ:DAWN ) is one of them 10 stocks to watch right now.
The first day rose to a new three-year high on Friday, as investors bought shares after news that it was merging with the France-based server for $2.5 billion.
In a joint statement, Day One Biopharmaceuticals Inc. (NASDAQ:DAWN) and Servier said they have entered into a definitive agreement under which they will acquire the final share at a price of $21.50. This number marked a 68 percent upside from its last closing price.
Photo by Pietro Jing on Pixels
Following the news, One Day Biopharmaceuticals Inc. (NASDAQ: DAWN ) soared to an intraday high of $21.23 before ending the session down 65.88 percent at $21.20, a few cents lower.
According to the companies, they expect to close the transaction in the second quarter of the year, subject to customary closing conditions
“Servant’s successful track record in rare cancers and commitment to advancing targeted therapies make it an ideal home for our portfolio as part of Day One’s mission to bring medicines to patients of all ages facing life-threatening diseases.” said Jeremy Bender, CEO of One Day Biopharmaceuticals Inc. (NASDAQ: DAWN ).
“Joining Servant represents a unique opportunity to expand the reach of our science and our pioneering program in pediatric low-grade glioma. Importantly, Servant’s dedication to the rare disease community maintains the patient-first mindset that has defined our company since its inception and has fueled our deep commitment to our community.”
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Read more: 30 stocks that should double in 3 years and 11 Secret AI Stocks to Buy Right Now.
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