Yesterday, Landos Biopharma (LABP) experienced a significant surge in its stock price, rising by an impressive 168%. This surge was fueled by AbbVie’s acquisition announcement, wherein AbbVie revealed plans to acquire Landos Biopharma for $137.5 million, with an additional $75 million contingent upon specific milestones. The acquisition deal includes a cash offer of $20.42 per share, marking a substantial premium over LABP’s previous closing price.
Investors responded positively to AbbVie’s strategic move to expand its pipeline in autoimmune diseases, reflecting optimism about Landos Biopharma’s potential treatments for various autoimmune and inflammatory conditions. The transaction is expected to close in the second quarter, signaling a significant milestone for both companies in advancing novel therapies.