💊 CureVac Soars on BioNTech Buyout; Insmed Slides on \$750M Offering, While Moderna Faces Vaccine Policy Shake-Up | Biotech Sector Insights
(IBB) has seen a slight increase of 0.1% since Wednesday. Notably, among the ETF's holdings, significant contributors to performance included AMGN, BNTX, GILD, CVAC, and CRL.
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Thursday, June 12
IBB [+0.1%]
iShares Biotechnology ETF
In pre-market trading, the iShares Biotechnology ETF (IBB) has seen a slight increase of 0.1% since Wednesday. Notably, among the ETF's holdings, significant contributors to performance included AMGN, BNTX, GILD, CVAC, and CRL. BioNTech SE announced a definitive Purchase Agreement to acquire CureVac N.V. in an all-stock transaction valued at approximately $1.25 billion. Each share of CureVac will be exchanged for about $5.46 in BioNTech American Depositary Shares, representing a substantial premium to CureVac's recent trading average. This acquisition aims to bolster BioNTech's capabilities in mRNA-based cancer immunotherapy and is expected to close in 2025, pending regulatory approvals and a minimum acceptance threshold of 80% of CureVac's shares.