Merck Agrees To Acquire Prometheus
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 17 April 2023
⏱️ 10 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning. Today is Monday, April 17th, and I'm your host Julie Morgan. |
| 0:12.0 | Merck has agreed to acquire Prometheus. |
| 0:14.0 | The price tag is nearly 11 billion dollars. |
| 0:18.0 | Panasonic is looking at building another EV battery plant in the U.S. |
| 0:22.0 | If it happens, it would be the company's third plant in the |
| 0:25.8 | United States. The trial between Fox News and Dominion voting systems has been delayed. The |
| 0:32.2 | trial was set to start today. |
| 0:34.3 | Our top story. Merck has agreed to acquire Prometheus Bioscience. |
| 0:40.3 | Prometheus is a clinical stage biotech focused on immunology. |
| 0:45.0 | The agreement is for $200 per share in cash, |
| 0:48.2 | indicating a total equity value of nearly $10.8 billion dollars. |
| 0:53.0 | Prometheus advances late stage studies for ulcerative colitis, |
| 0:57.6 | Crohn's disease, and other autoimmune conditions. |
| 1:01.1 | Pre-market, Prometheus, ticker symbol |
| 1:03.8 | RXDX, is up nearly 70%. |
| 1:07.2 | In the rating summary on Seeking Alpha, I'm seeing green. |
| 1:10.8 | Essay analysts say it's a buy, and there's a consensus between Wall Street and the |
| 1:15.4 | quant rating. Both say it's a strong buy. |
| 1:18.6 | As for Merck, pre-market, the stock is down 1.5%. The latest article published on Seeking Alpha about Merck is by Harold |
| 1:27.1 | Goldmeyer. The article is entitled, Merck is getting healthier. In the article he rates the stock a strong buy. They say one of |
| 1:35.6 | management's greatest strengths is transparency, leaving it open to |
... |
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