Apogee Therapeutics, Inc. (APGE) shares surged 46.72 percent, gaining $42.23 to $132.61 on Monday, after AbbVie announced a definitive agreement to acquire the biotechnology company in an all-cash transaction valued at approximately $10.9 billion.
The stock is currently trading at $132.61, compared with its previous close of $90.38 on the Nasdaq. During the session, shares opened at $132.55 and traded in a narrow range between $132.50 and $133.00. Trading volume reached 31.26 million shares, far exceeding the average daily volume of 974,516 shares.
Under the terms of the deal, AbbVie will acquire all outstanding Apogee shares for $135.11 per share in cash, representing a significant premium to the stock's prior closing price.
Apogee's 52-week range is $34.34 to $133.00. AbbVie said the acquisition will strengthen its immunology portfolio by adding Apogee's clinical-stage pipeline targeting inflammatory and immunological diseases, including atopic dermatitis and asthma. The transaction has been unanimously approved by both companies' boards and is expected to close in the third quarter of 2026, subject to shareholder and regulatory approvals.
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