BioCentury
ARTICLE | Finance

JPM jump

Gainers, decliners in the wake of 2017 JPMorgan Healthcare Conference

January 14, 2017 1:43 AM UTC

Nine of the 160 biotechs that presented at the 2017 JPMorgan Healthcare Conference not only skated through the volatile week unharmed, but managed to post gains of at least 15%, with Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) leading all risers after Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) announced that it would acquire the cancer play.

Ariad gained $9.95 (72%) to $23.69 after the Japanese pharma said it would pay $24 per share, or about $5.2 billion, mainly to gain brigatinib, a lung cancer candidate now under FDA review. The price was a 75% premium to Ariad’s close of $13.74 on Jan. 6, before the deal was announced (see “Solidifying Takeda’s Position”). ...