AbbVie Near $11B Apogee Deal; Regenxbio Gains on FDA Gene Therapy Path
AbbVie is reportedly nearing an $11 billion acquisition of Apogee Therapeutics, sending APGE shares soaring, while Regenxbio gains after the FDA clears a path for accelerated approval of its gene therapy Navsunli.
AbbVie is reportedly closing in on a nearly $11 billion deal to acquire Apogee Therapeutics, a developer of inflammatory disease drugs, sending Apogee shares soaring in premarket trading. Meanwhile, Regenxbio shares are moving higher after the company aligned with the FDA on next steps for a potential accelerated approval of Navsunli, a gene therapy for Mucopolysaccharidosis II. Separately, SpaceX shares are lower, continuing their slide following the company's record IPO.
According to a Financial Times report, AbbVie's acquisition of Apogee would bolster its pipeline in inflammatory diseases, a key therapeutic area. The deal, valued at nearly $11 billion, represents a significant premium for Apogee shareholders. For Regenxbio, the FDA's confirmation that no additional studies are needed for Navsunli removes a major regulatory hurdle, paving the way for a potential accelerated approval. This news has driven strong gains in Regenxbio's stock, as traders on NowPrice can see the immediate market reaction reflected in live stock prices and charts.
Investors will be watching for official confirmation of the AbbVie-Apogee deal and any further details on the terms. For Regenxbio, the focus is on the FDA's final decision on Navsunli's accelerated approval, which could come in the coming months. SpaceX's post-IPO slide continues to draw attention, with traders monitoring support levels as the stock adjusts after its record-breaking debut. These developments highlight the dynamic nature of the biotech and space sectors, where regulatory and M&A catalysts can drive significant price moves.