Blueprint Medicines Stock Surges 26% On Acquisition Deal With Sanofi

(RTTNews) - Blueprint Medicines Corporation (BPMC) shares soared 26.01 percent to $127.71 on Monday after announcing a definitive agreement to be acquired by Sanofi. The stock opened at $128.04 and traded between $127.52 and $128.15, marking a new 52-week high on the Nasdaq. This compares to a prior close of $101.35. Trading volume exploded to 37.2 million shares, far surpassing the daily average of just under 1 million.

The deal will give Sanofi control of Blueprint's portfolio, which includes treatments for systemic mastocytosis and other KIT-driven diseases.