Aurinia Extends Gain on Report of Bristol-Myers Approach
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Aurinia Pharmaceuticals Inc. added to its rally, giving the biopharmaceutical company a market value of $3.9 billion, on news that Bristol-Myers Squibb Co. had expressed interest in acquiring its smaller rival.
Aurinia’s stock advanced 7.2% to $30.01 at 9:44 a.m. Monday in New York, following a 27% surge recorded Oct. 22, after Bloomberg News reported the Bristol-Myers approach. Aurinia shares had climbed 60% this year before the Bloomberg story, which cited people familiar with the matter. Bristol-Myers rose less than 1% to $57.90 Monday.