Shares of F-star Therapeutics Inc. were up 45% at $5.93 in early trading, erasing a significant chunk of a selloff on Thursday in which shares dropped below $4.
The clinical-stage biopharmaceutical company said in a securities filing Thursday that a U.S. national security committee has blocked its merger with a unit of China's Sino Biopharmaceutical Ltd., citing national security risks.
Shares had hit a 52-week high of $6.93 on Wednesday before closing the trading session at $6.86.
After the news of its blocked merger spread Thursday morning, shares opened 38% lower at $4.20 and hit a daily low of $3.98 in the afternoon.
About an hour and a half before the market opened Friday morning, F-star shares rapidly shot up in premarket trading and opened the regular session at $5.66, up more than 38% from the prior day's close of $4.09.
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