Why Antares Pharma Stock Is Bolting Higher Today
Shares of the drug delivery specialist Antares Pharma (NASDAQ: ATRS) jumped by as much as 49.2% in premarket action Wednesday morning. The company's stock is bolting higher in response to a $960 million definitive merger agreement with Halozyme (NASDAQ: HALO).
Per the terms of the deal, Halozyme will pay $5.60 per share in cash to acquire Antares, which amounts to a 49.7% premium compared to the drug delivery company's closing price Tuesday afternoon. The two biopharmaceutical companies reportedly expect the deal to close before the end of the second quarter of 2022. Halozyme's shares are flat in premarket trading at the time of this writing in response to this news.
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Source Fool.com
