By Colin Kellaher
Chimerix shares surged to a multi-year high Wednesday after the biopharmaceutical company agreed to be acquired by larger peer Jazz Pharmaceuticals for about $935 million.
Jazz is paying $8.55 a share in cash for Chimerix, a 72% premium to Tuesday's closing price.
Shares of the Durham, N.C., company were recently up 70% at $8.41, reaching levels not seen since 2021.
Chimerix shares were trading as low as 75 cents last August before the stock began to rally late last year on hopes for its dordaviprone, which is under Food and Drug Administration review for accelerated approval in a rare, high-grade brain tumor.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
March 05, 2025 10:00 ET (15:00 GMT)
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