Why Neos Therapeutics Inc Rose 13.7% In October

Why Neos Therapeutics Inc Rose 13.7% In October

Shares of Neos Therapeutics (NASDAQ: NEOS), a small-cap pharmaceutical company focused on attention deficit hyperactivity disorder (ADHD), jumped 13.7% in October according to data from S&P Global Market Intelligence. It was a month filled with news, but October's rally can be pinpointed to a single event.

Here's a quick review of the company-specific news items that took place in October:

While those updates were interesting, the company's stock didn't take off until shareholders learned that PDL BioPharma (NASDAQ: PDLI) had made an unsolicited bid to acquire the company outright. PDL -- which is a biopharma with a checkered history -- offered to buy all of the company's outstanding shares for $10.25 in cash. Since shares were trading around $7.30 prior to the announcement, they jumped hugely after the news broke.

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Source: Fool.com