AveXis ( AVXS) soared over 81% on Novartis ( NVS) offer to buythe Company for $8.7B in cash and sparked another rally in gene therapy stocks . AveXis’ lead product AVXS-101 is expected to enhance Novartis’ position as a gene therapy and neuroscience leader. The FDA has granted AVXS-101 an Orphan Drug Designation and Breakthrough Therapy Designation for treatment of spinal muscular atrophyor SMA Type 1.
Biotechs Bounce Off Bottom On Novartis Deal But Fade Later In The Day
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