Why Urovant Sciences Stock Is Skyrocketing Today

By Motley Fool

Shares of Urovant Sciences (NASDAQ: UROV) were skyrocketing 93.8% higher as of 11:40 a.m. EST on Friday. The huge gain came after the company announced that it has entered into a definitive agreement to be acquired by Sumitovant Biopharma for $584 million. Urovant CEO James Robinson said his company has “been partnering closely with [Sumitovant] on plans to efficiently launch vibegron and achieve scale as quickly as possible.”

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