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Mirati Therapeutics (NASDAQ:MRTX) jumped 17% amid a report that Sanofi (NASDAQ:SNY) is exploring a possible acquisition. The shares were halted volatility after the report.
Sanofi (SNY) has been studying a possible purchase of Mirati (MRTX), according to a Bloomberg report on Thursday, which cited familiar people familiar with the matter.
Deliberations are ongoing, and it’s not certain a deal will be reached, Bloomberg said. Mirati (MRTX) has a market cap of $2.9 billion.
The latest potential takeover comes after Bloomberg reporter last November that Mirati (MRTX) was drawing interest from large pharmaceutical companies ahead of updates on its drug pipeline. The company has received interested in previous years without a deal coming to fruition.
