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Why Shares of VectivBio Holding Are Up Today

Jim Halley, The Motley Fool
·2 min read
Why Shares of VectivBio Holding Are Up Today

Shares of VectivBio Holdings (NASDAQ: VECT) were up more than 35% Monday morning after the clinical-stage biotech company received a buyout offer from Ironwood Pharmaceuticals (NASDAQ: IRWD). Ironwood's shares were down a little more than 2% on Monday morning. Ironwood, which specializes in gastrointestinal therapies, said it was acquiring VectivBio in a $1 billion all-cash deal, offering $17 a share for VectivBio, a 42% premium of what the stock closed at on Friday.

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