This Biotech's Stock Price More Than Doubled on Friday. Here's Why.
1. Merck to acquire Cidara for $9.2 billion, valuing shares at $221.50. 2. Cidara's shares surged over 100% after the acquisition announcement. 3. The deal includes Cidara's drug candidate CD388 in Phase 3 trials. 4. Merck's acquisition aims to expand its antiviral treatment portfolio. 5. Merck's CEO views CD388 as a potential growth driver for the next decade.