Shares of Vigil Neuroscience Inc. (VIGL) are up over 240% at $7.89 today, in premarket trading on Thursday, on news of the company getting acquired by Sanofi (SNY) for a total equity value of approximately $600 million.
Vigil is developing a potential breakthrough therapy for adult-onset leukoencephalopathy with axonal spheroids and pigmented glia, or ALSP for short, a rare neurologic disorder. There are currently no approved therapies for the treatment of ALSP. The company's ALSP drug candidate, Iluzanebart, is under a phase II proof-of-concept clinical trial, dubbed IGNITE. Its second clinical asset, VG-3927, is a phase II-ready candidate being developed for the treatment of Alzheimer's disease.
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