Perceptive Gets a Big Boost From Pfizer’s Array Deal

The healthcare and biotech specialist enjoyed hefty gains in many of its top holdings on Monday.

(Michael Nagle/Bloomberg)

(Michael Nagle/Bloomberg)

What a day for Joseph Edelman’s Perceptive Advisors.

Pfizer’s announcement that it agreed to acquire Array Biopharma for $10.64 billion in cash not only sent the shares of the cancer drug developer soaring, it sharply lifted the stocks of many other biopharmaceutical companies, especially those trying to develop their own cancer treatments.


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