According to the Global Data report, the pharma sector in Q3 2023 witnessed deals worth $28 billion, down 28% from the $54 billion recorded in Q2 2023.
With recent merger and acquisition deals in the targeted radiopharmaceutical therapy (TRT) space, on Tuesday, Oppenheimer noted that Fusion Pharmaceuticals Inc (NASDAQ: FUSN) is potentially the sole remaining clinical-stage player with a robust supply chain.
U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining more than 150 points on Tuesday.
The Dow traded up 0.50% to 37,574.66 while the NASDAQ rose 0.50% to 15,068.50. The S&P 500 also rose, gaining, 0.45% to 4,776.17.
Shares of RayzeBio, Inc. (NASDAQ: RYZB) rose sharply during Tuesday’s session after the company announced that it will be acquired by Bristol Myers Squibb for $62.50 per share in cash in a deal worth $4.1 billion.
RayzeBio shares gained 100% to $61.38 on Tuesday.
Bristol Myers Squibb & Co (NYSE: BMY) has agreed to acquire RayzeBio Inc (NASDAQ: RYZB) for $62.50 per share in cash, for a total equity value of approximately $4.1 billion, or $3.6 billion net of <