Chemocentryx Inc (CCXI) is trading 109% higher at $50.39 today.
- Chemocentryx Inc receiving $52 per share bid from Amgen, representing ~116% premium over the Wednesday closing price
- The Boards of Directors at both companies have already both given their unanimous support to the deal
- Robert Bradway, chairman and CEO of Amgen: “The acquisition of ChemoCentryx represents a compelling opportunity for Amgen to add to our decades-long leadership in inflammation and nephrology with TAVNEOS, a transformative, first-in-class treatment for ANCA-associated vasculitis”
- Acquisition expected to close in the fourth quarter of 2022
Chemocentryx Inc has been trading between a 52-week high of $42.16 and a 52-week low of $13.11. The stock has a market cap of $3.59 Billion.
ChemoCentryx is a biopharmaceutical company developing new medications for inflammatory and autoimmune diseases and cancer. ChemoCentryx targets the chemokine and chemoattractant systems to discover, develop and commercialize orally-administered therapies. ChemoCentryx's lead drug candidate, avacopan (CCX168), successfully completed a pivotal Phase III trial in ANCA-associated vasculitis and a New Drug Application is under review by the U.S. Food and Drug Administration.
ChemoCentryx (CCXI) Stock Soars 100% on Amgen AcquisitionInvestorPlace
Amgen adds potential blockbuster drug with $3.7 billion ChemoCentryx dealFX Empire
ChemoCentryx option IV decreases after Amgen (AMGN) to acquire ChemoCentryx for $52 per share in cashInvesting.com
Shareholder Alert: Ademi LLP investigates whether ChemoCentryx, Inc. has obtained a Fair Price in its transaction with AmgenPR Newswire
Piper Sandler Downgrades ChemoCentryx to NeutralInvesting.com
08-04-22As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:
Kind_Elevator_6597 - 1 upvotes - source
My favorite biotech Ccxi sold their drug for around 4 billy.I sold it back in October for 38 congrats to those who waited for over 50.
BlackpanthaCS32 - 1 upvotes - source
Moved up $5 PUMP : ![img](emote|t5_2th52|4271) Nobody talked about CCXI
nationalizm - 0 upvotes - source
Holy shit has anyone seen how much CCXI $40c’s went up? From 0.01 to 10.20 in a day, Literally up 101k%, do those actually pay out if there’s barely any volume on them or open interest? Imagine being a market maker and learning your short is down 100% ![img](emote|t5_2th52|4271)