Why Immunovant, Anchiano, OpGen Are Rallying Today

Why Immunovant, Anchiano, OpGen Are Rallying Today
Immunovant, Inc. (NASDAQ:IMVT), Anchiano Therapeutics Ltd. (NASDAQ:ANCN) and OpGen, Inc. (NASDAQ:OPGN) are among the biggest healthcare gainers on Monday.

Immunovant Rallies On Buyout Offer: Biotech holding company Roivant Sciences, which is planning an initial public offering, revealed in a filing with the SEC that it intends to make an offer for acquiring all of the issued shares that it does not currently own in its subsidiary Immunovant.

Roivant currently has a 57.5% stake in Immunovant, a clinical-stage biopharma that focuses on developing therapies for autoimmune diseases.

Roivant said it expects that any potential transaction would be at a per share price representing a premium to current trading levels, with the mix of cash or equity consideration to be mutually determined by it.

Immunovant shares fell sharply in early February after it announced a voluntary pause of dosing in its ongoing clinical trials for IMVT-1401, which is being evaluated in a Phase 2 study in thyroid eye disease, citing risk of elevated total cholesterol and LDL levels.
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