BeaconEquity.com announces the publication of “Kosan Biosciences Inc. (KOSN) Shares Surge 230 Percent on Acquisition by Bristol-Myers Squibb for $190 Million”
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In the article the author covers Kosan and Bristol-Myers Squibb announced signing of merger agreement:
”According to the American Cancer Society, 7.6 million people died from cancer worldwide in 2007, accounting for about 13 percent of all deaths. Biological companies aggressively pursue the latest research and development efforts to combat diseases, searching for a way to increase life span and to conquer the life-threatening cases of cancer.
“Kosan Biosciences Inc., a cancer therapeutics company, focuses on developing various classes of anticancer agents through clinical development. Its product KOS-953, an Hsp90 inhibitor is in Phase III clinical trial in combination with Velcade for multiple myeloma, as well as in Phase II clinical trial in combination with Herceptin for HER2-positive metastatic breast cancer.
“Kosan and Bristol-Myers Squibb recently announced they have signed a merger agreement for $5.50 per share. Bristol-Myers will pay to Kosan an aggregate of $190 million in cash for the acquisition. Following the news, Kosan shares surged 230 percent…”
To read the entire article visit http://www.beaconequity.com/m – Click on News and Commentary
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