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Shares of Therapeutics Springworks arose on Monday following a report that German medical company Merck Kgaa could acquire the company.
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A deal between the German company and the Cancer Treatment Manufacturer in the US Springworks could be announced in the coming weeks, Reuters Reporting.
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Springworks shares jumped on Monday to their highest closing price in nearly three years.
Therapeutics Springworks stock increased on Monday on a report that the German medical technology giant could be close to the acquisition of the company.
Citing a number of people who are familiar with the discussions, Reuters It was reported on Monday that Springworks and Merck Kgaa, listed in Germany, were in discussions and an agreement could be reached in the coming weeks. Reuters He later reported that Merck had confirmed “advanced” conversations.
Springworks (Swutx) Develops several treatments for different types of cancers and tumors. Merck Kgaa, who bills himself as the “oldest pharmaceutical and chemical company in the world,” is an entity except the US pharmaceutical company with the same name.
Shares of Springworks finished Monday up about 34% on their highest shutdown since April 2022, transferring some earlier earnings ago. Merck's shares in Germany ended the trading session down about 3%.
Merck has said he is ready to make new procurements after his cash funds grow during the pandemic in the middle of increasing demand for his products, Bloomberg Reporting.
A Springworks spokesman refused to comment on the report. Merck did not immediately respond to a request for attention.
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