7:11 PM
Jan 12, 2018
 |  BioCentury  |  Finance

JPM jolt

Gainers, decliners in the wake of 2018 J.P. Morgan Healthcare Conference

Fifteen biotechs that presented at the 2018 J.P. Morgan Healthcare Conference posted gains of at least 15%, with Ablynx N.V. (Euronext:ABLX; NASDAQ:ABLX) leading the risers after announcing that its board rejected two unsolicited acquisition proposals from Novo Nordisk A/S (CSE:NOVOB; NYSE:NVO).

On Dec. 22, Novo proposed to acquire Ablynx for €30.50 per share, valuing Ablynx at €2.3 billion ($2.8 billion) based on 74.7 million outstanding shares. The first proposal, made on Dec. 7, was for €26.75 per share. Ablynx also announced the departure of Chairman Peter Fellner (see “Assessing Ablynx”).

Ablynx rose €15.40 (73%) to €36.60 on Euronext Brussels and gained $16.37 (63%) to $42.28 on NASDAQ on the...

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