Bristol-Myers buying Karuna signals a biotech boom ahead: Jefferies
Bristol-Myers SquibbBristol-Myers Squibb(US:BMY) Invezz·2023-12-23 16:10

Karuna Therapeutics Inc (NASDAQ: KRTX) ended nearly 50% up on Friday after Bristol-Myers Squibb Co (NYSE: BMY) said it will buy the biopharmaceutical firm for $14 billion.Analyst shares his view on biotech stocksCopy link to sectionThe all-cash transaction values each share of Karuna Therapeutics at $330 and helps Bristol-Myers expand its footprint in neurological and psychiatric conditions. KarXT – the lead asset of Karuna Therapeutics is being studied as a possible treatment for schizophrenia, Alzheimer’s ...