WASHINGTON (dpa-AFX) - Shares of ArQule Inc. (ARQL) are currently up over 100 percent, trading at $19.66, as the Company is all set to be acquired by Merck Inc. (MRK).
We alerted our premium subscribers to ARQL on June 17, 2019, when it was trading around $8. (Report titled 'Coming events cast their shadows before...')
ArQule's lead investigational candidate, ARQ 531, is currently in a phase II dose expansion study for the treatment of B-cell malignancies.
Merck, through a subsidiary, will acquire ArQule for $20 per share in cash for an approximate total equity value of $2.7 billion.
Merck has commenced a tender offer to acquire all outstanding shares of ArQule, and the closing of the tender offer will be subject to certain conditions. The transaction is expected to close early in the first quarter of 2020.
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