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Biotech company Forty Seven surges 30% after hours on report of Gilead interest
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Shares of cancer-therapy company Forty Seven Inc. shot up more than 30% in after-hours trading Thursday after a report that Gilead Sciences Inc. has made a takeover offer. Bloomberg News reported that Gilead and Forty Seven, a biotech firm that specializes in cancer immunotherapy, are discussing a number of options, including a partnership, and the company was said to have other suitors as well. Forty Seven's stock is up 192% over the past year, with a market cap of around $2.3 billion. Gilead shares ticked up slightly in extended trading.