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Aurinia Pharmaceuticals (NASDAQ:AUPH) soared 6.7% amid takeover speculation.
The Aurinia (AUPH) stock surge comes amid a report that a Gilead Sciences (GILD) corporate jet made a trip to Aurinia’s headquarters in Edmonton, Canada, according to a Gordon Haskett note on Tuesday. This was the first time the jet had flown to the area since a trip in May.
The takeover speculation comes after Aurinia (AUPH) announced in late June that it was exploring strategic alternatives, including a potential sale. RBC said at the time that Aurinia could see prices in the high $20s to low $30s per share in a takeout at premium multiples.
Aurinia (AUPH) has been the subject of takeover speculation for a few years since Bloomberg reported in October 2021 about a potential bid from Bristol-Myers Squibb (BMY).
