Innocoll Holdings (INNL) Confirms Talks Over Potential Offer
Shares of Innocoll Holdings PLC (Nasdaq:INNL) soared more than 88% to touch the $2.58 mark in intraday trading Thursday after the company confirmed that it is in discussions about the potential sale of its entire issued share capital, adding that there is no certainty a deal will be reached.
The specialty pharmaceutical and medical device company is evaluating strategic alternatives to maximize shareholder value.
INNL stock is trading at $1.88, up $0.51 (or +37.23%) and 10.05M of its shares changed hands so far, representing a large increase in activity versus its average volume (3m) of 998,615 shares.
Innocoll Holdings, which manufactures and sells collagen-based pharmaceutical products and devices, has 29.73M shares outstanding and INNL stock 52-week range is between $0.53 and $12.94 per share.
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