Shockwave Medical shares rose over 6% in premarket trading as Penumbra Inc is exploring a potential deal with Shockwave Medical Inc.
Penumbra has held talks with Shockwave Medical about a potential tie-up.
Shares of Shockwave Medical have soared nearly 900% since the company went public in 2019, giving it a market value of almost $6 billion.
Penumbra was valued at about $9.5 billion.
But Penumbra said in an emailed statement Sunday that it is not in discussions with Shockwave Medical to pursue a business combination or similar transaction.
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