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As per the latest reports, the stock prices of Translate Bio have experienced a surgeon Tuesday, August 3, 2021. The reports suggest that the price surge Translate Bio observed was almost 30% on a particular day. The reason behind the surge is because its messenger-RNA development partner has been acquired by Sanofi.
Sanofi is a major drugmaker that is based in France. The company has reportedly agreed that it would proceed with purchasing the partner of Translate Bio. The reports confirm that Sanofi has agreed to acquire the messenger-RNA at a price of $3.2 billion.
Further information has come in in regards to the acquisition deal. The information reveals that Sanofi would be acquiring Translate Bio’s partner fully in cash. With the acquisition, Sanofi is reportedly aiming to gain superiority over its rivals.
At present, some of the major drug-making companies include BioNTech, Pfizer, and Moderna. All of the drug makers have gained a tremendous amount of popularity when it comes to the discovery of the vaccination for COVID-19.
In the premarket trading, the stock prices of Translate Bio have experienced a 28.99% increase on Tuesday, August 3, 2021. Since the surge, the share price of Translate Bio has grown all the way up to $37.60.
This happened following an announcement made by Sanofi in regards to the stock prices of Translate Bio. Sanofi made announced that as part of the deal, it would acquire each share of Translate Bio at a price of $38. The company also added that it would be acquiring each share from Translate Bio in cash.
More information around the acquisition has been released by both companies. It has been confirmed that the board of directors from both companies are on the same page when it comes to proceeding with the transaction.
At present, Sanofi is facing several local competitors when it comes to making vaccines for COVID-19. It was recently reported that the COVID-19 vaccination created by Moderna is extremely effective against the Coronavirus.
As for BioNTech, the reports made the headlines when it was revealed that it had partnered with Pfizer. Since the partnership, both companies have joined their efforts in the making of COVID-19 vaccines. The data shows that the vaccination created by both companies has been injected into over a billion people so far.
Both companies; BioNTech and Pfizer have observed a great surge in their stock prices as well as revenues since they came up with the vaccinations for the Coronavirus.
At the time of writing, the market capitalization of BioNTech is at $80 billion, while the market capitalization of Moderna is at $140 billion.
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