BioCentury
ARTICLE | Finance

JPM jolt

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

January 13, 2018 3:11 AM UTC

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”)...