๐ฐ Crinetics $CRNX rockets +99% premarket โ Vertex drops $10B all-cash buyout at $85/share
Vertex Pharmaceuticals ($VRTX) announced Monday night it will acquire Crinetics Pharmaceuticals for $85 per share in cash โ a massive 102% premium over Friday's close. The deal values Crinetics at roughly $10 billion and adds PALSONIFY (paltusotine), an FDA-approved acromegaly drug, plus a late-stage congenital adrenal hyperplasia program. Vertex expects the acquisition to be earnings-accretive by 2029 and close in Q3 2026. Not financial advice. Do you think a competing bid could emerge, or does Vertex have this locked up?
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