Reata Surged Over 51% While Biogen Slid Slightly in Morning Trading

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Reata Surged Over 51% While Biogen Slid Slightly in Morning Trading

Tiger Newspress2023-07-28

Reata Pharmaceuticals surged over 51% while Biogen slid slightly in morning trading.

Biogen Inc. said Friday it has agreed to acquire Reata Pharmaceuticals Inc. for $7.3 billion in cash in a deal that will help it expand its portfolio of treatments for rare diseases.

Reata (RETA) "has made significant advancements developing therapeutics that regulate cellular metabolism and inflammation in serious neurologic diseases," Biogen said in a statement.

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