Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Shares of Trillium Therapeutics (NASDAQ: TRIL) are surging remarket on Monday after it was announced that Pfizer (NYSE: PFE) will acquire the firm.
The deal is worth $2.26 billion or $18.50 per share, representing a 118% premium to the 60-day weighted average price for Trillium.
Pfizer said the acquisition strengthens its category leadership in Oncology with the addition of next-generation, investigational immuno-therapeutics for hematological malignancies. They added that it potentially enhances its growth in 2026 to 2030 and beyond.
“Today’s announcement reinforces our commitment to pursue scientific breakthroughs with the addition of potentially best-in-class molecules to our innovative pipeline,” said Andy Schmeltz, Global President & General Manager, Pfizer Oncology.
“The proposed acquisition of Trillium builds on our strong track record of leadership in Oncology, enhancing our hematology portfolio as we strive to improve outcomes for people living with blood cancers around the globe,” he added.
Dr Jan Skvarka, CEO of Trillium, said: “We’re delighted to announce Pfizer’s proposed acquisition of Trillium. Today’s announcement reflects Trillium’s potentially best in class SIRPα–CD47 status and contribution to immuno-oncology.”
Trillium's share price is currently up 191.63% at $17.76 premarket. This year the company's shares had been down 58.6%.
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