(RTTNews) - Shares of Ventyx Biosciences, Inc. (VTYX) surged more than 62% in after-hours trading on Tuesday after The Wall Street Journal reported that the company is in advanced talks to be acquired by Eli Lilly and Company (LLY) in a deal valued at over $1 billion.
The Journal, citing people familiar with the matter, noted that a deal for Ventyx— which develops pills to treat inflammatory diseases— could be announced imminently.
VTYX closed Tuesday's regular trading session on the NasdaqGS at $10.05, rising $2.23 or 28.52% as of 4:00 PM EST. In after-hours trading, the momentum continued, with the stock climbing to $16.34, an additional gain of $6.29 or 62.59% as of 7:59 PM EST.
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