By Connor Hart
Shares of SpringWorks Therapeutics climbed after The Wall Street Journal reported that Germany's Merck KGaA is nearing a $3.5 billion deal for the U.S. biopharmaceutical company.
SpringWorks stock rose 8.7%, to $44.80, in afternoon trading Thursday. Shares are up 2.3% in the past year.
Both companies have agreed on a price close to $47 a share, according to the report, which cited people familiar with the matter. A deal could be completed as soon as Monday, assuming the talks don't hit any more last-minute snags.
German life-sciences and chemicals company Merck in February said it was in advanced talks to buy SpringWorks, after signaling last year that it was on the lookout for deals.
SpringWorks in late 2023 launched its first drug, Ogsiveo, a therapy for desmoid tumors--a rare type of tumor that occurs in connective tissue--in adults. The business had a market value of a little over $3 billion as of Thursday.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
April 24, 2025 15:17 ET (19:17 GMT)
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