Why Verve Therapeutics Stock Is Skyrocketing Today
Shares of Verve Therapeutics (NASDAQ: VERV) were skyrocketing 75.7% higher as of 10:50 a.m. ET on Tuesday. And for good reason. Eli Lilly (NYSE: LLY) and Verve Therapeutics announced a "definitive agreement for Lilly to acquire Verve."Lilly offered $10.50 per share in cash, payable at the closing of the transaction. This represents a premium of around 113% to the 30-day volume-weighted average trading price of Verve stock for the period ending June 16, 2025.In addition, Verve shareholders will receive one nontradable contingent value right (CVR) per share owned that could entitle them to receive another $3 per share when the first patient is dosed with VERVE-102 for atherosclerotic cardiovascular disease (ASCVD) in a U.S. phase 3 clinical trial within 10 years of the closing or termination of the CVR. The total purchase price if the CVR is paid amounts to around $1.3 billion. Continue reading
Shares of Verve Therapeutics (NASDAQ: VERV) were skyrocketing 75.7% higher as of 10:50 a.m. ET on Tuesday. And for good reason. Eli Lilly (NYSE: LLY) and Verve Therapeutics announced a "definitive agreement for Lilly to acquire Verve."
Lilly offered $10.50 per share in cash, payable at the closing of the transaction. This represents a premium of around 113% to the 30-day volume-weighted average trading price of Verve stock for the period ending June 16, 2025.
In addition, Verve shareholders will receive one nontradable contingent value right (CVR) per share owned that could entitle them to receive another $3 per share when the first patient is dosed with VERVE-102 for atherosclerotic cardiovascular disease (ASCVD) in a U.S. phase 3 clinical trial within 10 years of the closing or termination of the CVR. The total purchase price if the CVR is paid amounts to around $1.3 billion.
