Chelsea Therapeutics (Nasdaq: CHTP) stock soared 31.30% to $6.59 today (Thursday) after agreeing to be acquired by Danish pharmaceutical company H. Lundbeck in a deal valued at $658 million.
Terms of the deal are related to the performance of Chelsea's key drug Northera.
Here are the details – and a look at how CHTP became one of the hottest stocks of 2014.
Chelsea Therapeutics (Nasdaq: CHTP) stock soared 31.30% to $6.59 today (Thursday) after agreeing to be acquired by Danish pharmaceutical company H. Lundbeck in a deal valued at $658 million.
Terms of the deal are related to the performance of Chelsea's key drug Northera.
Here are the details – and a look at how CHTP became one of the hottest stocks of 2014.
Good news for micro-cap Chelsea Therapeutics International Ltd. (Nasdaq: CHTP) - and its investors. The company's drug to treat a rare type of low blood pressure has received accelerated U.S. Food and Drug Administration approval.
The welcome news came Monday after the close. Nearly 14 million shares changed hands during Monday's regular trading session as investors awaited approval news.
Shares of the Charlotte, N.C.-based company were halted after-hours as the decision loomed. When the stock resumed trading, shares surged 37%, or $1.87, to $6.79.
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Biotech has been the hot sector of late. Last week it was Intercept Pharma shooting up 280% in one day. This week it was a 92% gain for Chelsea Therapeutics. As more development-stage biotechs near approval for new treatments,
We're going to see even more biotech rockets like Chelsea...
