Trius Therapeutics, Inc. (NYSE:TSRX) shares gained by 20.41%


Dallas, Texas 08/01/2013 (Financialstrend) – Trius Therapeutics, Inc. (NYSE:TSRX) had presented gains of 20.41% with the trading on Wednesday and had thereby closed at $14.10 per share. While the stock opened at $13.75 per share, there had been fluctuations in the intraday prices ranging between $13.50 and $14.17 per share during the day. The 52 week low price for the stock is presently at $4.41 and 52 week high price is at $14.17 per share. There are a total 47.87 million shares in the market valuing to a market cap of $4.5 billion. The stock witnessed around 11.58 million shares being exchanged hands on Wednesday while the average level of trading is at 1.40 million shares a day.

Shares of biopharmaceutical company TriusTherapautics rushed 20% today more than the peer Cubist Pharmaceuticals (NASDAQ:CBST) certain to gain it for up to $818 million. Cubist said it will compensate $13.50 per share in cash for Trius and a $2.00 per stake bonus if Trius chances certain sales targets, with the mutual $15.50 offer expressive at 32% premium to Trius’ closing value on Tuesday. Cubist is buying Trius along with Optimer Pharmaceuticals (NASDAQ:OPTR) to strengthen its situation in antibiotics and judging by Cubist’s 10% pop today, Mr. Market is pleased with the value it’s paying to do it. Cubist presumes the transaction to close by later this year, with the completion of required monitoring approvals and other customary closing conditions.

“Trius is a remarkable strategic fit with Cubist that maintains the long-range objectives of growth while ranging our global management in the important care environment,” said Cubist CEO Michael Bonney. “Tedizolid is a moving late-stage antibiotic applicant that we believe has the potential to be an important new tool in the infectious virus, the public battle against resistant contaminations caused by MRSA.”

Subscribe to get your free report!

* indicates required
*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.