Revolution Medicines stock rises as Merck buyout talks swirl; FDA designation adds another spark
Revolution Medicines shares rose 4.3% to $112.00 Friday after reports that Merck is in talks to buy the company for up to $32 billion. The FDA granted Breakthrough Therapy designation to Revolution’s KRAS-targeting lung cancer drug this week. AbbVie denied involvement in any deal. Revolution declined to comment on the takeover speculation.