Cyclerion Therapeutics (CYCN) shares more than quadrupled on Wednesday after announcing a merger with Korsana Biosciences, a privately held biotech firm focused on Alzheimer’s. In its press release, CYCN confirmed that the combined entity will rebrand as Korsana Biosciences and trade on the Nasdaq under the new ticker symbol “KRSA.”
At the time of writing, Cyclerion stock is trading at nearly 6x its price in early February.
