CinCor Pharma Stock Surges on Offer to Be Obtained by AstraZeneca

AstraZeneca

agreed to acquire U.S. biotech firm

CinCor Pharma

in a deal perhaps valued at $1.8 billion, the British pharmaceutical big claimed Monday.

The offer rate of $26 a share represents a 121% quality to CinCor’s (ticker: CINC) closing cost on Friday, and will see

AstraZeneca

(AZN.U.K.) pay back $1.3 billion up front. 

AstraZeneca

agreed to acquire U.S. biotech firm

CinCor Pharma

in a deal perhaps valued at $1.8 billion, the British pharmaceutical big claimed Monday.

The offer rate of $26 a share represents a 121% quality to CinCor’s (ticker: CINC) closing cost on Friday, and will see

AstraZeneca

(AZN.U.K.) pay back $1.3 billion up front.