Karuna, Bristol Climb as Deal to Face Easy FTC Nod: Street Wrap

(Updates shares move, adds peer moves, Cantor comments).

Karuna Therapeutics jumps as much as 48% to a record high after Bristol Myers Squibb said it agreed to acquire the schizophrenia drug developer for $330.00 per share in cash, for a total equity value of $14 billion. Bristol also gains as much as 4.3%. Analysts cheer the deal and see it having less regulatory hurdles before approval by the FTC.

• PureTech Health, which owns a stake in Karuna’s lead drug KarXT, jumps as much as 21% in London
• Neurological-drug makers Neurocrine Biosciences and Neumora Therapeutics are also higher on Friday; NBIX ...