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Lilly to acquire gene therapy specialist, Prevail Therapeutics, in a deal worth US$1.04bn US pharma giant, Eli Lilly and Co, announced today that it would buy Prevail Therapeutics Inc in a deal valued at US$1.04bn. The Indianapolis headquartered company said the acquisition will establish a gene therapy program at Lilly, anchored by Prevail's portfolio of neuroscience assets, and will broaden Lilly's commitment to use novel modalities to attempt to address otherwise fatal genetic forms of neurodegenerative disease such as Parkinson’s disease or dementia. Lilly ...

Prevail Therapeutics stock nearly doubles after Eli Lilly buyout deal Shares of Prevail Therapeutics Inc. nearly rocketed 98.3% in premarket trading Tuesday, after the gene therapy company agreed to be acquired by Eli Lilly & Co. in a deal with a total value of $1.04 billion. Lilly’s stock edged up 0.5% ahead of the open. Under terms of the deal, Lilly will buy Prevail for $22.50 per share in cash, which is 84% above Monday’s closing price of $12.50, plus one non-tradable contingent value right (CVR) worth up to $4.00 a share in cash, for a total consideration of $26.50 in cash. The CVR i...

Author Bio Keith began writing for the Fool in 2012 and focuses primarily on healthcare investing topics. His background includes serving in management and consulting for the healthcare technology, health insurance, medical device, and pharmacy benefits management industries. Follow @keithspeights What happened Shares of Prevail Therapeutics (NASDAQ:PRVL) were skyrocketing 83.6% higher as of 11:05 a.m. EST on Tuesday. The huge jump came after Eli Lilly (NYSE:LLY) announced plans to acquire Prevail in a deal totaling $1.04 billion.  So what Lilly offered $22.50 per s...

Order Reprints Text size Lilly is entering the field of gene editing with a deal for Prevail Therapeutics. Frederick Florin/AFP via Getty Images Sales of a Covid-battling antibody helped allow Eli Lilly to lift its sales forecast for this year and tell Wall Street to expect better results than analysts had anticipated for 2021. In a Tuesday morning business update, the drug giant (ticker: LLY) said it could earn as much as $7.65 a share this year, and $8.40 the next. Lilly also disclosed a move into the burgeoning field of gene editing, with the $1 billion acqu...

Source: Streetwise Reports  (12/15/20) Shares of Prevail Therapeutics reached a new 52-week high after the company reported it has signed a definitive agreement to be acquired by Ely Lilly in a deal valued up to $1.04 billion. Neurodegenerative disease gene therapy company Prevail Therapeutics Inc. (PRVL:NASDAQ) and global healthcare company Eli Lilly and Co. (LLY:NYSE) today announced that they have entered into a definitive agreement whereby Eli Lilly will acquire Prevail Therapeutics for $22.50 per share in cash for a total purchase price of approximately $880 millio...