Stock Market Today, June 22: Apogee Therapeutics Soars on AbbVie Cash Buyout Offer
On June 22, 2026, Apogee Therapeutics shares surged as investors reacted to AbbVie's proposed acquisition terms.
Stock Market Today, June 22: Apogee Therapeutics Soars on AbbVie Cash Buyout Offer
Overview
Apogee Therapeutics (NASDAQ:APGE), a clinical-stage biologics company for inflammatory and immunology disorders, closed at $132.55, up 46.66%. AbbVie’s proposed $135.11-per-share cash acquisition drove the surge. Investors are watching to see whether the deal closes in the near term and how well Apogee’s treatments fit into AbbVie’s pipeline over the long term. Trading volume reached 61.0M shares, coming in about 3,064% above its three-month average of 1.9M shares. Apogee Therapeutics IPO'd in 2023 and has grown 524% since going public.
The S&P 500 fell 0.33% to 7,475, and the Nasdaq Composite fell 1.32% to 26,167. Among biotechnology companies focused on biologic immunology and inflammatory disease therapies, Regeneron Pharmaceuticals closed at $612.50, up 0.42%, while Abbott Laboratories closed at $87.80, down 0.69%.
Details
Apogee Therapeutics rose nearly 50% today after AbbVie offered $10.9 billion in all-cash to acquire the anti-inflammatory biotech. The market seems to think the deal is likely to go through as expected in Q3, with shares currently trading just 2% below the offer price.
Source
Originally published at www.fool.com.
