U.S. Stock Movement | Avidity Biosciences soars over 42% after being acquired by NOVARTIS AG for $12 billion

According to Zhitong Finance APP, on Monday, Avidity Biosciences (RNA.US) opened with a surge of over 42%, reaching a historic high of $70.13. In terms of news, Swiss pharmaceutical company Novartis AG (NVS.US) has agreed to acquire the American biotechnology company Avidity Biosciences, with the acquisition valued at $12 billion. Novartis stated that it will purchase shares at a cash price of $72 each, which represents a 46% premium over Avidity's closing price on Friday.

Novartis also mentioned that the equity value of the transaction is $12 billion, but after the deal is completed, Avidity is expected to have approximately $1 billion in cash, bringing its enterprise value to about $11 billion. This makes it Novartis's largest acquisition in nearly a decade. The entire transaction is expected to be completed in the first half of 2026, but is contingent upon the completion of the spin-off matters