Zalicus (ZLCS) soared Wednesday after the biopharmaceutical company announced it would merge with Epirus Biopharmaceuticals. After the all-stock transaction closes, Zalicus will be known as Epirus and will operate under the latter company's management team led by Amit Munshi as president and CEO. Current Zalicus stockholders will own approximately 19% of the company. The merger will create a publicly-traded company listed on the NASDAQ.
The biotech sector has jumped off to a strong start to 2014, with today's blockbuster move in Intercept Pharma offering a big assist. I know it's ridiculously early to make any sort of definitive judgment, but I wondered how the first days of biotech trading 2014 compared to 2013. Here are the charts: