Vera Therapeutics Shares Rise 9.9% After Alpine Acquisition
By Ben Glickman
Shares of Vera Therapeutics were up late Wednesday after Alpine Immune Sciences, whose lead candidate is similar to Vera's, said it would be acquired at a premium.
Vera stock was up 9.9% to $45.74 in late trading, after rising 9.8% in the regular session on earlier reports of the deal. Shares have more than doubled this year as of Wednesday's close.
Alpine agreed to be acquired by Vertex Pharmaceutical for about $4.9 billion in cash, or $65 a share, representing a premium of about 67% on Alpine's unaffected share price before rumors of the deal.
Alpine's lead candidate, povetacicept, is a potential treatment for IgA nephropathy, a kidney condition.
Vera's lead candidate, atacicept, is being evaluated as a treatment for various autoimmune diseases, including IgA nephropathy.
The two treatments use similar mechanisms, blocking B-cell Activating Factor and A PRoliferation-Inducing Ligand, both types of proteins.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
April 10, 2024 18:48 ET (22:48 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
How Anti-Obesity Drugs Are Innovating the Healthcare Market
-
What’s Happening In the Markets This Week
-
Why Immigration Has Boosted Job Gains and the Economy
-
What to Invest in During High Inflation
-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
After Earnings, Is Lyft Stock a Buy, a Sell, or Fairly Valued?
-
8 Stock Picks in the Apparel Industry
-
Baidu Earnings: Advertising Weakness Offset by Continued Growth In Cloud Business
-
Going Into Earnings, Is Target Stock a Buy, a Sell, or Fairly Valued?
-
Walmart Earnings: Low Prices and Strong Digital Presence Drive Market Share Gains
-
After Earnings and a Big Selloff, Is Shopify Stock a Buy, a Sell, or Fairly Valued?
-
Cisco Earnings: Positive Guidance and Splunk Inclusion Align With Our Long-Term Thesis
-
3 Warren Buffett Stocks to Buy After Berkshire Hathaway’s Just-Released 13F Filing