By Denny Jacob
Vigil Neuroscience shares more than tripled in premarket trading a day after Sanofi agreed to acquire Vigil for about $470 million.
Vigil shares were trading around $8. The stock was up 36% on the year as of Wednesday's close.
Paris-based Sanofi said Wednesday evening that it would purchase all of the clinical-stage biotechnology company's outstanding shares for an upfront payment of $8 a share. Vigil shareholders will also receive the right to an additional $2 a share in cash, payable following the first commercial sale of the in-development Alzheimer's treatment VG-3927, if achieved within a set period.
Including the possible later payout, the deal's total equity value could reach about $600 million, said Watertown, Mass.-based Vigil. The sale is expected to close in the third quarter.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
May 22, 2025 07:47 ET (11:47 GMT)
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