LogicBio jumps 648% on buyout deal with AstraZeneca unit Alexion
Maksim Labkouski


LogicBio (NASDAQ:LOGC) gained ~648% pre-market Monday after Alexion, a unit of AstraZeneca (NASDAQ:AZN) announced an agreement to acquire the U.S.-based genetic medicine company for $2.07 per share in cash.
The Lexington, MA company boasts a genome editing platform, and an adeno-associated virus (AAV)-based gene delivery platform.

"The proposed acquisition of LogicBio is a significant development for our growing research in genomic medicine,â remarked Marc Dunoyer, Chief Executive of Alexion, U.S.-based rare disease focused company that AZN acquired in 2021.
Per the terms, an Alexion subsidiary will start a tender offer to acquire all outstanding shares of LOGC. Boards of both companies have approved the transaction which is expected to close in 4 â 6 weeks.

The deal is likely to draw attention to gene editing companies such as CRISPR Therapeutics (CRSP), Intellia Therapeutics (NTLA), Beam Therapeutics (BEAM), Editas Medicine (EDIT), Apellis Pharmaceuticals (APLS), and Verve Therapeutics (VERV)
Gene therapy companies including bluebird bio (BLUE), uniQure N.V. (QURE), BioMarin Pharmaceutical (BMRN), Sarepta Therapeutics (SRPT), REGENXBIO (RGNX) and Iovance Biotherapeutics (IOVA) are also likely to gain attention.
Read about how U.S. biotech/ pharma stocks performed in Q3.