Inhibrx Soared 176% Over Two Months — Now, Sanofi Is Buying It

Sanofi is acquiring Inhibrx for $1.7 billion to enter the liver disease treatment market. Inhibrx has a midstage testing treatment for alpha-1 antitrypsin deficiency, an inherited disease causing lung tissue deterioration. Sanofi’s purchase centers on Inhibrx’s alpha-1 antitrypsin deficiency treatment called INBRX-101. The remaining assets will be separated into a new company named New Inhibrx. Inhibrx’s stock rose 6.8% while Sanofi’s dropped 1.5%. The deal entails Sanofi paying $30 per share of Inhibrx stock, along with a contingent value right and a stake in New Inhibrx. The transaction is expected to conclude in Q2. Inhibrx is a highly rated biotech stock.