BofA is moving to No Rating on SpringWorks Therapeutics (SWTX) given that shares are trading near the Merck KGaA (MKGAY) potential offer price of $47 per share and “no longer trading on fundamentals.” A $47 per share price, while below expectations, would be a validation of the market opportunity for Gomekli and Ogsiveo, the analyst stated.
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- M&A News: Merck KGaA to Buy SpringWorks for $3.5B to Boost Oncology Business
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