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.-
After Earnings, Is Alphabet Stock a Buy, a Sell, or Fairly Valued?
-
When Will the Fed Start Cutting Interest Rates?
-
What’s the Difference Between the CPI and PCE Indexes?
-
Powell Unfazed By Sticky Inflation, but Rate Cuts Are Far Off
-
After Earnings, Is Microsoft Stock a Buy, a Sell, or Fairly Valued?
-
Best- and Worst-Performing Stocks of April 2024
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Small-Cap and Value Stocks Are Undervalued
-
4 Utility Stocks to Play the AI Data Center Boom
-
Albemarle Earnings: We Expect Improved Results In the Rest of Year Following Cyclically Low Profits
-
Novo Nordisk Earnings: Raised Fair Value Estimate Still a Contrast to Market Overenthusiasm
-
After Earnings, Is Verizon Stock a Buy, a Sell, or Fairly Valued?
-
Look Inside Berkshire Hathaway’s Portfolio Before Its Annual Meeting
-
How to Invest Like Warren Buffett
-
Cognizant Earnings: Improved Profitability Buttresses Results as Customer Spending Remains Muted
-
10 Top-Performing Dividend Stocks of the Month