Biotech Forum Daily Digest For January 18th
There have been some volatile trading action in the biotech sector this week on fears of a government shutdown and potential M&A action.
Juno Therapeutics could be the second major CAR-T play to be acquired over the past six months if buyout talks with Celgene are successful.
All the other news, events, and analyst ratings from across the sector, as well as a Spotlight feature on Eiger Biopharmaceuticals after its recent trial setback, are below.
The greater danger for most of us lies not in setting our aim too high and falling short; but in setting our aim too low, and achieving our mark.” – Michelangelo Buonarroti
The holiday-shortened trading week has brought some volatility to Biotech Land. Tuesday, we saw an early morning intra-day reversal partly on fears of a government shutdown bringing the biotech sector down some three percent on the day. We clawed back more than a third of those losses on Wednesday, partly on news that Celgene (CELG) was in serious talks to acquire Juno Therapeutics (JUNO) for a huge premium for the 90% of the company it does not already own (see below). Today, we open up lower, thanks again in part to fears of a partial potential government shutdown this weekend.
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