Top Stock Gainers: Silence Therapeutics Leads on Merck Acquisition
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Silence Therapeutics (NASDAQ: SLN) surged after Merck KGaA agreed to acquire the company for approximately $1.30 billion in equity value.
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Disc Medicine (NASDAQ: IRON) rallied after its Phase 3 APOLLO trial met all primary and secondary endpoints.
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Recent IPO Amaero (NASDAQ: AMRO) also gained, while no clear catalysts were identified for Picard Medical or Republic Power Group.
Silence Therapeutics (NASDAQ: SLN) rose 125.6% to $19.58 after Merck KGaA agreed to acquire the RNA-interference drug developer. Merck will pay $20.00 per American depositary share, representing a 130% premium to Silence’s October 16 closing price. The transaction has an enterprise value of approximately $1.10 billion and an equity value of about $1.30 billion.
Disc Medicine (NASDAQ: IRON) gained 38.9% to $78.93 after its Phase 3 APOLLO trial of bitopertin met all primary and secondary endpoints. The drug is being developed for erythropoietic protoporphyria, a rare disorder that causes severe sensitivity to light. Disc plans to resubmit its application for FDA approval.
Amaero (NASDAQ: AMRO) rose 22.8% to $5.53. The advanced-manufacturing company recently completed a U.S. IPO priced at $4.25 per share, raising approximately $20.00 million in gross proceeds. No additional company announcement clearly explains the October 19 gain.
Picard Medical (NYSE American: PMI) advanced 21.2% to $15.45. The company owns SynCardia Systems, which develops and markets the SynCardia Total Artificial Heart. No confirmed same-day catalyst was identified.
Republic Power Group (NASDAQ: RPGL) climbed 16.8% to $8.05 on approximately 721,000 shares. The Singapore-based company provides ERP software, consulting and technical support services. No verified company announcement clearly explains the gain.
