-=MyoKardia (MYOK) to be acquired by Bristol Myers Squibb (BMY) for $225.00/share

• In November, Bristol Myers completed its $74 billion acquisition of Celgene. 

 MyoKardia to be acquired by Bristol Myers Squibb (BMY) for $13.1 billion or $225.00/share in cash 

Bristol Myers Squibb (BMY) early Monday announced an agreement to buy MyoKardia (MYOK) for $13.1 billion, adding to its portfolio of heart disease treatments. BMY stock slipped on the news, while MYOK stock soared.

The purchase price comes to $225 per share. That's a more than 60% premium to MYOK's closing price of 139.60 on Friday. MYOK stock has been trading near record highs.

Bristol Myers Squibb said the deal gives them MyoKardia's mavacamten, a potential first-in-class cardiovascular medicine for the treatment of obstructive HCM, or hypertrophic cardiomyopathy. HCM is a chronic heart disease with high morbidity and patient impact, the companies said.

In their news release, the companies said they expect to file a New Drug Application for mavacamten in first-quarter 2021. Bristol Myers Squibb also said it expects the therapy will have other applications and also praised "MyoKardia's promising pipeline of novel compounds."

This week's biggest % winners & losers : Aug 7 - 11, 17 (wk 32)

The following are this week's top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top 20 % gainers

• Healthcare: MYOK (36.7 +113.99%),EDIT(21.95 +28.66%),NTRA(10.62 +28.11%),NXTM(29.22 +26.27%),ACHN(4.7 +19.16%),FGEN(41.65 +19%),PRGO(78.49 +16.4%),EGRX(55.64 +16.4%),IPXL(18.3 +15.09%),CYH(7.45 +14.26%)
• Industrials:STS(20.95 +38.47%),HTZ(18.65 +30.24%)
• Consumer Discretionary:KORS(44.69 +21.44%),CROX(9.21 +15.99%),ERI(23.4 +15.27%)
• Information Technology:ATHM(61.52 +28.65%),EFII(31.81 +22.11%),SSNI(12.95 +15.94%),BITA(36.91 +14.52%)
• Consumer Staples:CHEF(17.6 +20.96%)

This week's top 20 % losers

• Healthcare:  SGRY(11.03 -43.75%),DEPO(6.32 -33.26%),CCXI(7.2 -30.7%), BLCM(7.96 -25.88%),EVH(18.4 -23.65%)
• Materials: FRTA(4.64 -46.48%)
• Industrials:BW(2.91 -70.99%),CBI(11.8 -30.47%),CECE(7.45 -23.27%)
• Consumer Discretionary: FOSL(8.2 -29.55%),ODP(4.27 -28.11%), JCP  3.93 -27.76%),FTD(13.85 -27.03%)
• Information Technology:LXFT(45.7 -25.57%),CALX(5.04 -24.78%)
• Financials:MHLD(7 -36.94%)
• Energy:OSG(2.2 -27.15%),TTI(1.99 -23.17%)
• Consumer Staples:BETR(7.63 -21.82%)

MyoKardia (MYOK) : positive mid-stage trial results for heart muscle disease

  

MyoKardia Inc. (MYOK) surged on positive mid-stage clinical trial results for its mavacamten therapy. Patients on the therapy met the trial's primary endpoint and key secondary endpoints in the phase 2 trial, the company said. MyoKardia expects to start its next clinical trial by the end of this year, depending on discussions with the Food and Drug Administration. The latest data came from the clinical trial's first patient cohort, in which 11 patients were enrolled and 10 patients completed the study. The one patient in question had a history of atrial fibrillation and experienced an episode of atrial fibrillation during the trial. All other safety problems were mild to moderate, according to MyoKardia, and "a majority of the [adverse events] were deemed to be unrelated to the study drug." The Independent Data Monitoring Committee reviewed the trial's safety data and recommended the study be continued, the company said. Mavacamten is intended for symptomatic, obstructive hypertrophic cardiomyopathy, which occurs when heart muscle cells enlarge and block blood flow, and is a common cause of sudden cardiac arrest, according to the American Heart Association. MyoKardia shares have surged 20.4% over the last three months, compared with a 3.2% rise in the S&P 500 (SPX).