Replies to post #242685 on Biotech Values

[Preciouslife1]

Turning Point Therapeutics (TPTX) – The biopharmaceutical company’s shares more than doubled in premarket trading after agreeing to be acquired by Bristol Myers Squibb (BMY) for $76 per share in cash, or $4.1 billion. Turning Point specializes in cancer treatments. UP $40 premarket!

[DewDiligence]

BMY-TPTX buyout_price_of $76.00 is_a 122% premium_to_yesterday’s_close.

The nominal deal value is $4.1B.

As a result of the acquisition, BMY is reducing 2022 non-GAAP EPS guidance by $0.08 plus a charge for in-process R&D to be determined later. (BMY’s prior 2022 non-GAAP EPS guidance was $7.44-7.74.)

https://www.businesswire.com/news/home/20220603005198/en