Akorn (AKRX) Becomes Takeover Target; Tonix Pharmaceuticals (TNXP) Attracting Interest
Akorn, Inc. (Nasdaq:AKRX) shares climbed more than 12% in after-hours trading Friday as the company confirmed that it is in talks over its potential acquisition by a subsidiary of German health-care giant Fresenius SE & Co. KGaA. There is no certainty a deal will be reached, Akorn added.
AKRX stock finished the regular session at $29.77, up $4.55 (or +18.04%), and 24.10M of its shares changed hands during the day, representing a large increase in activity versus its average volume (3m) of 1.80M shares.
Akorn, which develops, manufactures, and markets specialized generic and branded pharmaceuticals, over-the-counter (OTC) drug products, and animal health products, has 124.45M shares outstanding and AKRX stock 52-week range is from $17.61 to $35.40 per share. At close on Friday, the specialty generic pharmaceutical company had a market capitalization of $3.70B
Investment fund manager Rosalind Advisors, Inc. disclosed Friday in a regulatory filing ( SC 13G/A ) with the Securities and Exchange Commission (SEC) a 9.9% stake (594,077 shares) in Tonix Pharmaceuticals Holding Corp. (Nasdaq:TNXP). Separately, Empery Asset Management, LP reported ( SC 13G ) to the government agency a 5.28% pasive stake (315,000 shares) in the clinical-stage pharmaceutical company.
TNXP stock surged 5.62% (or+$0.23) to $4.32 with a total volume of 703,519 shares traded on Friday.
Tonix Pharmaceuticals Holding, which develops medicines for common disorders of the central nervous system, has 5.96M shares outstanding, market capitalization (intraday) of $24.38M and TNXP stock one-year range is between $3.30 and $37.70 per share.
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