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Shares of the commercial-stage cancer company Epizyme (NASDAQ: EPZM) are soaring today. Specifically, the drugmaker's stock is up by a handsome 58% as of 10:50 a.m. ET Monday.
Epizyme's shares are racing higher today in response to a buyout agreement with French biopharma Ipsen (OTC: IPSEY). Ipsen reportedly agreed to pay $1.45 per share, as well as a milestone-dependent contingent value right (CVR) of $1.00 per share, to acquire the small-cap drugmaker.