Turning Point Stock Doubles After Bristol Myers Announces Takeover. It’s the 7th Biotech Deal This Year.

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Updated June 3, 2022 8:48 am ET / Original June 3, 2022 7:32 am ET

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Turning Point Therapeutics stock has more than doubled after Bristol Myers Squibb announced that it had agreed to buy the company. It’s just the latest deal for a beaten-up biotech stock.

Turning Point stock (TPTX) was up 114% to $73.26 at 7:05 a.m. Friday after Bristol (BMY) said that it would purchase the small-cap biotech company for $76 a share. Bristol stock is little changed.


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