Stocks finished higher Monday, sparked by a flurry of mergers and acquisitions news and signs of progress on a coronavirus vaccine.
1. Immunomedics | Percentage Increase 98%
Immunomedics (IMMU) - Get Report nearly doubled after Gilead Sciences (GILD) - Get Report said it had reached an agreement to buy the cancer treatment specialist for about $21 billion. The deal will give Gilead access to the breast cancer treatment Trodelvy, which received clearance from the U.S. Food and Drug Administration last spring.
2. Scientific Games Corp. | Percentage Increase 39%
Scientific Games (SGMS) - Get Report climbed after the gambling products company said that a group of investors including Caledonia Investments would take a 34.9% stake in the company. The investors will acquire the stake from billionaire Ronald Perelman's firm MacAndrews & Forbes at $28 a share.
3. Axsome Therapeutics | Percentage Increase 13%
Axsome Therapeutics (AXSM) - Get Report advanced after the biopharma said its treatment for depression, AXS-05, demonstrated a highly statistically significant reduction in patient-reported depressive symptoms compared with a placebo at Week 6 of a Phase 3 trial involving 327 adult patients.
4. Seattle Genetics | Percentage Increase 14%
Seattle Genetics (SGEN) - Get Report climbed after Merck (MRK) - Get Report said it would take an equity stake in the company and collaborate with the biopharma on two cancer drugs. The companies will globally develop and commercialize Seattle Genetics’ ladiratuzumab vedotin, an investigational antibody-drug conjugate.
5. Vaxart | Percentage Increase 47%
Vaxart (VXRT) - Get Report shares surged after the drugmaker was cleared by the Food and Drug Administration to begin Phase 1 human trials for an oral coronavirus-vaccine candidate. The company plans to start recruiting patients for human trials this month. Vaxart has ongoing tests involving hamsters injected with SARS-CoV-2 and intends to use that data to inform its human studies.