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Dice Therapeutics Rallies As It Agrees To Be Bought By Lilly -- MarketWatch
Mentioned: DICE LLY
Dice Therapeutics Inc. (DICE) stock is up by 40% in premarket trades Tuesday after it agreed to be purchased by Eli Lilly & Co. (LLY) for $48 a share in a deal that values the immunology company at about $2.4 billion. The price values Dice at a 40% premium over the 30-day, volume-weighted average trading price of its stock as of June 16. "We're eager to see our pipeline, including our oral IL-17 inhibitors, DC-806 and DC-853, benefit from Lilly's resources and global reach and I'm excited by the prospect of watching these two talented teams in a united quest for scientific innovation," said Dice CEO Kevin Judice. Lilly stock is down 0.2% in premarket trades.