India, June 3 -- Shares of MoonLake Immunotherapeutics (MLTX) gained over 15% on Tuesday morning driven by a report that Merck (MRK) has offered to buy it for "more than $3 billion."
MLTX is currently trading at $47.53, up $6.37 or 15.48%, on the Nasdaq. The stock opened its trading at $47.82 after closing Monday at $41.16. The stock has traded between $31.42 and $58.26 in the past 52-week period.
According to Financial Times, Merck has held talks to buy the Swiss biotech company for more than $3 billion.
Merck has submitted a nonbinding offer for MoonLake earlier this year, according to the report, which added that the initial approach was rejected but talks could be revived.
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