SpringWorks Stock Jumps More Than 30% on News of Possible Deal | Global News Avenue

Springworks Therapeutics Stock emerged in a report Monday saying the German medical technology giant could be close to acquiring the company.

Quoting multiple people familiar with the discussion, Reuters On Monday, Springworks and Merck Kgaa, which are listed in Germany, are in talks and can reach an agreement in the coming weeks. Reuters It was later reported that Merck confirmed the “high-level” talks.

Springworks(SWTX) Various treatments are being developed for different types of cancer and tumors. Merck KGaA (Merck Kgaa) is the “oldest pharmaceutical and chemical company in the world” and is an independent entity with the same name as the American pharmaceutical company.

Since April 2022, Springworks’ share price has earned about 34% of its revenue at its highest closing, thus handing some early gains. Merck-listed shares ended about 3% of the trade fair.

Merck said it is ready to make new acquisitions after increasing cash reserves during the pandemic due to growing demand for products. Bloomberg Report.

A Springworks spokesman declined to comment on the report. Merck did not immediately respond to a request for comment.