|Bid||0.00 x 1200|
|Ask||0.00 x 21500|
|Day's Range||19.69 - 20.10|
|52 Week Range||2.23 - 20.10|
|Beta (3Y Monthly)||2.20|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar 5, 2020 - Mar 9, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||13.73|
BALA CYNWYD, PA / ACCESSWIRE / December 10, 2019 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of ArQule, Inc. ("ArQule" ...
A handful of sickle cell disease treatments and CAR-T therapies that treat cancer have been approved by the Food and Drug Administration in recent years, but a new crop of investigational therapies that would grow those markets is exciting investors.
Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm headquartered at the Empire State Building in New York City, is investigating ArQule, Inc ("ArQule" or the "Company") (Nasdaq: ARQL) relating to the sale of the Company to Merck Sharp & Dohme Corp. Under the terms of the Merger, ArQule shareholders will have the right to receive $20.00 in cash for each share of ArQule common stock owned.
Merck (MRK) offers to acquire ArQule for a deal value of $2.7 billion. The transaction will add ArQule's lead investigational candidate ARQ 531 to Merck's oncology portfolio.
The following are top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks that hit 52-week highs Dec. 9.) Acceleron Pharma Inc (NASDAQ: XLRN ) Aimmune Therapeutics ...
A string of multibillion-dollar pharmaceutical deals announced over the last week call attention to a record-setting year in which drugmakers and biotechs have spent $342 billion snapping up smaller companies to bolster their pipelines.
Dow book a triple-digit loss Monday, and all three major U.S. stock indexes end lower, as investors wait on global central bank policy updates this week and a key tariff deadline on Sunday.
ArQule stock rocketed more than 100% on Monday after Dow Jones stock Merck pledged to buy it for $2.7 billion. The biotech company is working on precision medicine in cancer treatment.
U.S. stocks pulled back on Monday from near-record levels, as Apple and healthcare shares fell and investors braced for a busy week of political and economic news, including a potential turning point in the U.S.-China trade dispute. Investor hopes of at least an initial U.S.-China agreement have helped push major stock indexes to record highs, with the benchmark S&P 500 hovering about 0.5% below its all-time high. "The market is ... in a little bit of a wait-and-see mode," said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana.
"There is optimism about the potential of a roll back or some positive news on trade that is keeping stocks where they are," said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas. The S&P 500 came within striking distance of a record high hit two weeks ago.
NEW YORK, NY / ACCESSWIRE / December 9, 2019 / The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased ArQule, Inc. ("ArQule" or the "Company") ...
Continuing with last's week trend of consolidation in the industry, two major players Merck (NYSE: MRK) and Sanofi (NYSE: SNY), made acquisitions to bolster their pipeline and augment future growth. One was telegraphed by the price action at the end of last week and the other was kept under wraps. The price action last week in Arqule Inc (NASDAQ: ARQL) gave no indication that the company was going to be taken out for $20/share as it posted a modest 9-cent gain for the week.
Bragar Eagel & Squire, P.C., a nationally recognized stockholder law firm, has launched an investigation into whether the board members of ArQule, Inc. (NASDAQ: ARQL) breached their fiduciary duties or violated the federal securities laws in connection with the company's proposed sale to Merck & Co.
WILMINGTON, DE / ACCESSWIRE / December 9, 2019 / Rigrodsky & Long, P.A.: Do you own shares of ArQule, Inc. (NASDAQ GM: ARQL )? Did you purchase any of your shares prior to December 9, 2019? Do you think ...
Benzinga Pro's Stocks To Watch For Monday Merck (MRK) - Reported it will purchase ArQule (ARQL) in a deal valued at $2.7 billion. The purchase price for ArQule was $20/share in cash. ArQule shares were ...
NEW YORK, Dec. 09, 2019 -- Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of ArQule, Inc. (NASDAQ: ARQL) to Merck for $20.00 per share.
Merck entered into a $2.7 billion deal Monday to buy ArQule Inc., a Massachusetts-based biopharmaceutical company developing targeted therapies for cancer and rare diseases. Under the terms of the cash deal, which still requires regulatory and shareholder approval, Merck (NYSE: MRK) will pay $20 per share to ArQule (NASDAQ: ARQL) stockholders. The offer is more than a 100% premium over the $9.66 share price ArQule closed at on Friday.
"There is optimism about the potential of a roll back or some positive news on trade that is keeping stocks where they are," said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas. The latest data from China showed exports in November shrank for the fourth consecutive month, underscoring persistent pressures on manufacturers from trade tensions.
The S&P 500 and Nasdaq indexes edged higher on Monday, with investors keeping a close watch on headlines around U.S.-China trade as planned tariffs on Chinese imports kick in on Dec. 15. Beijing and Washington are negotiating a first phase trade deal aimed at de-escalating tariff disputes but they continue to wrangle over key details.
(Bloomberg) -- Two of the world’s biggest pharmaceutical companies agreed to pay substantial premiums to acquire smaller cancer-drug makers, underlining the eagerness of the drug giants to add promising treatments to their oncology pipelines.In separate deals announced Monday, Merck & Co. agreed to buy ArQule Inc., which is developing drugs known as kinase inhibitors, for $2.7 billion, while French drug giant Sanofi agreed to buy Synthorx Inc., a maker of therapies that harness the immune system to fight tumors, for $2.5 billion.Both proposed transactions come with hefty price tags. In the ArQule deal, Merck will make a tender offer of $20 a share, more than double the smaller company’s closing price Friday. And in its deal for Synthorx, Sanofi agreed to pay nearly three times its target’s market value.Shares of ArQule more than doubled to $19.63 at 10:14 a.m. in New York, while Synthorx shares surged to $67.39, well above their Friday closing mark of $25.03.The substantial prices show that pharmaceutical giants are feeling increasingly pressed to pay up for companies that can restock their inventory of new drugs. For some time, drugmakers had balked at the lofty valuations of some publicly traded biotechnology companies.Merck Chief Marketing Officer Michael Nally, who is seen as a potential candidate to replace Chief Executive Officer Kenneth Frazier, said at a conference last week that the company doesn’t have an appetite for mega-deals, but would likely focus on transactions under $10 billion.Despite increasingly high premiums, “we’re not driven by the price of a deal,” Nally said. “We’re trying to find those spots where there’s those value-creating opportunities, and we look at everything. We’re not confined to a therapeutic area. We’re not confined to a size.”A persistent rally in biotech stocks could be forcing drugmakers to get off the sidelines before prices for appealing takeover targets climb even higher. The Nasdaq Biotechnology Index has surged some 24% this year.Deals like those unveiled Monday are likely to spur more gains in the sector, which is highly sensitive to takeover trends.Also on Monday, shares of XBiotech Inc. jumped 85% after Janssen Biotech Inc., a unit of Johnson & Johnson’s Janssen Pharmaceutical Co., agreed Saturday to buy rights to the company’s bermekimab, a potential treatment for colorectal cancer, for $750 million in cash.More CompetitionMerck already markets one of the world’s biggest-selling cancer treatments, the immunotherapy Keytruda, but like other large pharmaceutical companies, it has been searching for ways to expand its oncology offerings. Keytruda, which had 2018 sales of more than $7 billion, is expected to face increased competition in coming years.“We’ve been very committed to using Keytruda as our cornerstone--a foundational component to many therapies--while adding on additional targets,” Roy Baynes, senior vice president and head of global clinical development for Merck Research Laboratories, said in an interview. “As we diversify our oncology platform, I think we’ll follow the science more than targeting specific areas of disease.”ArQule, based in Woburn, Massachusetts, is focused on kinase inhibitor discovery. Its lead drug candidate, ARQ-531, is currently being studied in patients with a range of blood cancers. The drug will compete with a promising asset Eli Lilly & Co. acquired through its $8 billion purchase of Loxo Oncology in January, which jump-started a year of deals for new cancer compounds.“We were intrigued by the work that ArQule and others have been doing in this competitive space,” Baynes said. “The science has come to a moment in time where it looks very compelling. That was the driver moving ahead. Though the company has a number of other assets and a productive discovery engine, ARQ-531 is front and center.”In the past, Merck executives had signaled that high prices for biotech companies had been an impediment to getting deals done. But recently, the company has been more open to doing deals, and willing to pay more. Earlier this year, it spent $5.1 billion to buy the cancer-drug maker Peloton Therapeutics a day before the company was set to debut on the stock market.“We continue to think there is much more consolidation on the horizon” given the needs of drugmakers to beef up their pipelines, said Jared Holz, a health-care equity strategist at Jefferies LLC, in a note to clients.BofA Securities acted as financial adviser to Merck on the deal, and Covington & Burling was its legal counsel. Centerview Partners was financial adviser and Skadden, Arps, Slate, Meagher & Flom was legal adviser to ArQule.The transaction is expected to close early in the first quarter of 2020.Sanofi ShiftAt Sanofi, new Chief Executive Officer Paul Hudson is moving to put his stamp on the Paris-based drugmaker. The deal for La Jolla, California-based Synthorx underscores its efforts to build its portfolio of innovative therapies in a fast-growing and lucrative market. The purchase marks Sanofi’s first multibillion acquisition since early 2018.On Tuesday, Hudson is expected to lay out his pipeline and acquisition priorities, along with his initial plans for the consumer-health, diabetes and other units.Investors are counting on Hudson to fire up Sanofi’s research operations and step up the search for novel products to reduce its reliance on Dupixent, a standout medicine for severe eczema and asthma. Hudson, the former pharma head at Novartis AG, is credited with launching key medicines at his previous job before becoming CEO of Sanofi in September.Synthorx’s main drug, known as THOR-707, is being explored as a treatment for multiple types of solid tumors, together with immune checkpoint inhibitors and other future combinations.Morgan Stanley advised Sanofi, which used Weil, Gotshal & Manges as its law firm. Synthorx’s advisers were Centerview Partners LLC and Cooley LLP.(Updates stock-price information in fourth paragraph, adds quotes from executives throughout)\--With assistance from Cristin Flanagan and Ben Scent.To contact the reporters on this story: Riley Griffin in New York at firstname.lastname@example.org;James Paton in London at email@example.comTo contact the editors responsible for this story: Drew Armstrong at firstname.lastname@example.org, ;Eric Pfanner at email@example.com, Timothy Annett, Mark SchoifetFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.