CoLucid Pharmaceuticals (CLCD) led the biotech stocks Wednesday morning in premarket moving, seeing its share price skyrocket more than 30% ahead of market's open.
Under deal terms announced Wednesday, CoLucid will be acquired for $46.50 per share, a 33% premium to the stock's closing price Tuesday. The Cambridge, Mass.-based, company saw shares hit $46.35 ahead of market's open Wednesday.
Lilly's shares barely moved on the new, hitting $77 ahead of market's open.
Meanwhile, Jazz Pharmaceuticals (JAZZ) - Get Report, a $6.92 billion-market cap biotech based in Dublin, Ireland, saw its shares boost over 6% ahead of market's open after the company said it had enrolled its first patient in phase three trials for defibrotide, for the prevention of hepatic veno-occlusive disease in patients undergoing stem cell transplants.
"If the data from this trial are positive, they may be used to pursue regulatory approval of a label expansion for defibrotide in both the U.S. and EU to include the prevention of hepatic VOD in high risk patients following HSCT," said Karen Smith, global head of research at Jazz in a statement.
Tandem Diabetes Care (TNDM) - Get Report was also up significantly in premarket trading. The company, worth $84.27 million, makes insulin pumps. Its shares saw a significant boost Tuesday, up 14% from its Monday close price.
The company was trading at $3 per share ahead of market's open Wednesday.