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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Kadmon Holdings Inc | NASDAQ:KDMN | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 9.50 | 10.00 | 9.49 | 0 | 01:00:00 |
From Jun 2021 to Jun 2024
By Chris Wack
Kadmon Holdings Inc. shares were up 73% to $9.15 Wednesday after Sanofi SA said it was buying the biopharmaceutical company for $9.50 a share in cash, which represents a total equity value of $1.9 billion.
Volume for the stock was 49.5 million shares at 10:45 a.m. ET, compared with 65-day average volume of 3.7 million shares. The stock hit a 52-week high of $9.20 earlier in the session.
Kadmon's pipeline includes drug candidates for immune and fibrotic diseases, as well as immuno-oncology therapies.
The transaction is expected to be modestly dilutive to Sanofi's earnings in 2022.
The offer price represents a premium of 79% over Tuesday's closing price, and a premium of 113% over the 60 trading days volume-weighted average price.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
September 08, 2021 11:08 ET (15:08 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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