Merck (MRK.US) acquires Cidara (CDTX.US) for $9.2 billion, doubling the stock price in pre-market trading.

According to the Wise Finance APP, Merck (MRK.US) announced that it has reached a final agreement to acquire Cidara Therapeutics (CDTX.US) through its subsidiary for $221.50 per share in cash, with a total transaction value of approximately $9.2 billion. Cidara, a pharmaceutical company that pioneered long-acting flu antibodies, surged over 100% in pre-market trading, reaching $216.13 at the time of reporting, up by 103.92%.