ARTICLE | Financial News
Reata rises on renal interest from Amgen
February 1, 2020 2:37 AM UTC
Reata gained $24.75 (13%) to $218.79 Friday, adding about $750 million in market cap, after Amgen expressed interest in a renal-focused bolt-on acquisition.
Amgen Inc. (NASDAQ:AMGN) Chairman and CEO Robert Bradway said on the company’s 4Q19 earnings call Thursday that it is not investing in discovery research within the renal space, but is “going to look for business development opportunities there.”...