Shares of Silence Therapeutics PLC – ADR (NASDAQ: SLN) increased sharply on Monday following a definitive agreement to be acquired by Merck KGaA, Darmstadt, Germany. The transaction involves a cash purchase price of $20 per ADS.
The deal values the company at an enterprise value of $1.1 billion and an equity value of approximately $1.3 billion. In Monday's trading session, Silence Therapeutics shares closed up 125.7% at $19.60.
Separately, the broader market saw a mixed performance, with the Dow Jones Industrial Average falling around 100 points. Other notable gainers included Disc Medicine Inc (NASDAQ: IRON), which rose 24.7% to $70.90 after announcing topline results from the APOLLO Phase 3 trial of bitopertin in erythropoietic protoporphyria. Veradermics Inc (NYSE: MANE) gained 5.7% to $115.00 as its oral VDPHL01 demonstrated early, consistent, and robust hair growth in a positive Phase 3 clinical trial for male pattern hair loss.
