Shares of UK biotech CeNeS Pharmaceuticals rocketed up almost 70 percent after the developer confirmed that it's engaged in talks with a mystery suitor. CeNeS had little to offer to enlighten investors, though, playing its cards close to its vest. Analysts were quick to look to CeNeS' lead product--the painkiller M6G--for a clue to who might be interested in acquiring the company.
One possible buyer is chairman Alan Goodman, who runs Avlar Bioventures. CeNeS shares have been weak, spurring some analysts to speculate it could be just as easy to buy the company as in-license M6G. Big in the pain field: Purdue Pharma, Abbott Laboratories and Boehringer Ingelheim.
- read the report from Dow Jones
Related Article:
CeNeS licenses promising sedative to Ono. Report
Dealmaking stays big even as the markets tremble. ReportÂ