SFTBY - CM Life Sciences II stock rallies for fourth day following SPAC deal for SomaLogic

Special purpose acquisition company CM Life Sciences II Inc. (CMIIU) rallied for the fourth straight day Thursday, gaining as much as 15.4% intraday as Wall Street continued to endorse its plan to buy SomaLogic at a $1.2B valuation.CMIIU rose to as high as $14.77 during the session, although it later dropped back some to change hands at $13.89 shortly after 2 p.m. ET, up 8.5% on the session.All told, the stock is up some 20% from where it closed prior to announcing the SomaLogic deal on Monday.SomaLogic is a technology platform that uses artificial intelligence in proteomics, which is the study of proteins in the human body. For example, the company’s SomaScan test can analyze more than 7,000 different proteins in blood samples.Monday’s deal called for CMIIU to acquire the firm for some $651M in cash from a combination of the SPAC’s funds and a $375M private placement.Those participating in

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CM Life Sciences II stock rallies for fourth day following SPAC deal for SomaLogic