Novartis Abandons Pursuit of Cytokinetics, CYTK Stock Plunges
TL;DR
Novartis has decided to step back from its pursuit of Cytokinetics, a South San Francisco-based heart-drug developer, after reportedly being close to a purchase agreement. The Swiss drug giant had been pursuing the biotech for several months, but backed away in the past day or two, casting doubt on the prospects of a deal.
Topics:businessbusiness-pharmaceuticals#acquisition#business-pharmaceuticals#cytokinetics#heart-drug#novartis#pharmaceuticals
- Novartis Pursuit of Cytokinetics Cools - WSJ The Wall Street Journal
- Novartis drops pursuit of Cytokinetics - source Reuters
- Cytokinetics (CYTK) Shares Whipsaw Amid Deal Speculation Bloomberg
- M & A News: CYTK Stock Drops, Novartis Deal Hopes Diminish - TipRanks.com TipRanks
- Cytokinetics stock plunges amid no deal announcement as JPMorgan conf set to end Seeking Alpha
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