Why ChemoCentryx Stock Is On Fire Today
Shares of ChemoCentryx (NASDAQ: CCXI) skyrocketed by as much as 110% in premarket trading Thursday morning. The company's stock bolted higher following the news that biotech heavyweight Amgen (NASDAQ: AMGN) offered $3.7 billion in cash to acquire the rare-disease specialist. The deal represents a whopping 116% premium relative to where ChemoCentryx's shares closed on Wednesday.