Merck (NYSE:MRK) has agreed to acquire ArQule (NASDAQ:ARQL) for $20 per share in cash, valuing the transaction at $2.7B.
ArQule’s lead candidate is ARQ 531, an oral BTK inhibitor in Phase 2 development for B-cell malignancies.
Shares up 101% premarket on robust volume.
Update: ARQL will host an investor event this morning starting at 8:00 am ET to discuss ARQ 531 data being presented at ASH. A conference call and webcast will start at 8:15 am ET. The ASH presentation of Phase 1 results is scheduled for today at 6:00 pm ET.
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