Dicerna shares rocket up on a $15M-plus-stock deal to settle Alnylam claims — will deals follow?
Shares of Dicerna soared more than 30% Friday afternoon after the biotech announced that it had settled a nasty lawsuit with rival Alnylam over their IP.
Dicerna, which had countersued in an aggressive effort to wrestle free by accusing Alnylam of pushing a monopoly, is paying a modest $2 million upfront, $13 million over 4 years and handing over 938,208 shares to its rival — which are now worth over $13 a share. That gives Dicerna a market cap closing in on $700 million.
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