Ligand Pharmaceuticals (LGND) has reached a roughly $740M deal to buy Xoma XOMA Royalty (XOMA) at $39 per share, people familiar with the matter told The Wall Street Journal. The companies that buy rights to drugs in exchange for funding development are expected to announce the all-cash deal as soon as Monday, according to the sources.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on XOMA: