Vertex Pharmaceuticals (VRTX) and Crinetics Pharmaceuticals (CRNX) said late Monday they have reached an agreement for Vertex to buy Crinetics for $85 per share in cash. The deal has a total equity value of about $10 billion and is expected to close in Q3, the companies said.

Shares of Crinetics almost doubled amid a surge in intraday trading volume to over 67.1 million from a daily average of roughly 1.30 million.

MeiraGTx (MGTX) has signed a deal under which Oberland Capital Management has agreed to invest up to $400 million in the company, including up to $375 million in non-dilutive capital for capped royalty payments on certain products and up to $25 million in equity, it said Tuesday.

Shares jumped 8.2% following an increase in intraday trading volume to over 1.01 million from a daily average of about 987,000.

Tvardi Therapeutics (TVRD) said Tuesday its phase 1 study confirmed rapid prodrug conversion of TTI-109 to TTI-101, producing nearly identical plasma levels at molar-equivalent doses, and validating its prodrug design.

Shares soared 47% as intraday trading volume catapulted to over 56.7 million from a daily average of about 162,000.

Price: 525.34, Change: -4.25, Percent Change: -0.80