Apellis Shares Surge 135% After Acquisition Agreement With Biogen

Apellis Pharmaceuticals, Inc. (APLS) shares surged 135.69 percent, up $23.19 to $40.28 on Tuesday, after Biogen Inc. (BIIB) agreed to acquire all outstanding Apellis shares for $41.00 per share in cash, valuing the deal at approximately $5.6 billion. Apellis shareholders will also receive a nontransferable contingent value right that could deliver two additional $2 per share payments tied to annual global net sales targets for SYFOVRE.The stock is currently trading at $40.28, sharply above its previous clo ...