Cynapsus up on PD results
This article was originally published in Scrip
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Sumitomo Dainippon unit pays a 123% premium to acquire Cynapsus and its Phase III Parkinson's drug APL-130277, with at least one analyst speculating it paid a high price in order to avoid a bidding war.
Two companies in the biopharma space began trading publicly this week, one to pay off debt, the other to fund an early-stage pipeline.
The biotech is shifting gears after clinical hold on its lead drug was unlikely to be lifted, but the early-stage candidate that it's placing its hopes on is raising red flags for analysts and investors.