Previous Close | 6.17 |
Open | 6.18 |
Bid | 0.00 x 2200 |
Ask | 0.00 x 1400 |
Day's Range | 6.16 - 6.22 |
52 Week Range | 3.07 - 6.22 |
Volume | |
Avg. Volume | 284,632 |
Market Cap | 155.108M |
Beta (5Y Monthly) | 2.41 |
PE Ratio (TTM) | 38.88 |
EPS (TTM) | 0.16 |
Earnings Date | Nov 02, 2022 - Nov 07, 2022 |
Forward Dividend & Yield | N/A (N/A) |
Ex-Dividend Date | N/A |
1y Target Est | 6.23 |
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Come, thou long-expected M&A. On Monday, Vertex Pharmaceuticals Inc. and Innoviva Inc. both announced that they were making acquisitions. Vertex (Nasdaq: VRTX) is set to buy ViaCyte, a cell therapy startup specializing in diabetes, for $320 million cash, while Innoviva will pay about $149 million for infectious diseases firm La Jolla Pharmaceutical Company (Nasdaq: LJPC).
With the help of nearly $400 million in royalties from a well-known drug targeting asthma and COPD, the company wrapped up one acquisition and launched another.
Innoviva Inc (NASDAQ: INVA) has agreed to acquire La Jolla Pharmaceutical Company (NASDAQ: LJPC) for $5.95 per share, representing a premium of approximately 70% to the 30-day volume-weighted average price. Innoviva will also pay an incremental $0.28 per share for additional cash proceeds received in connection with the divestiture of a non-core asset. The deal consideration of $6.23 per share in cash has an implied enterprise value of approximately $149 million. The FDA approved La Jolla's lead