Up­dat­ed: As­traZeneca nabs a small rare dis­ease gene ther­a­py play­er for 667% pre­mi­um

As­traZeneca is kick­ing off the fourth quar­ter with a lit­tle M&A Mon­day for a gene edit­ing play­er re­cent­ly over­com­ing a sec­ond clin­i­cal hold to its on­ly pro­gram in hu­man stud­ies.

The Big Phar­ma and its sub­sidiary Alex­ion are buy­ing out lit­tle Log­icBio for $2.07 per share. That’s good for a mas­sive 667% pre­mi­um over its Fri­day clos­ing price, when it head­ed in­to the week­end at 27 cents and just weeks af­ter Nas­daq said Log­icBio would have to delist, which has been put on hold as the biotech re­quests a hear­ing. It’s one of two biotech deals to com­mence Oc­to­ber, along­side the news of In­cyte buy­ing a vi­tili­go-fo­cused biotech.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER