Pfizer Inc (NYSE:PFE) shares are trading higher Thursday. The company announced the acquisition of ReViral for a total consideration of up to $525 million.
ReViral has a portfolio of therapeutic candidates, including sisunatovir, an orally administered inhibitor designed to block fusion of the respiratory syncytial virus (RSV) to the host cell. Sisunatovir has been granted Fast Track designation by the U.S. Food and Drug Administration.
ReViral is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing novel antiviral therapeutics that target RSV. RSV is estimated to cause infections in approximately 64 million people, resulting in about 160,000 deaths globally each year.
Related Link: What Is RSV, And Why Is Pfizer Paying Up To $525M For Treatment Candidates?
On CNBC's "Fast Money Halftime Report," Market Rebellion co-founder Pete Najarian noted that he bought Pfizer call options Thursday morning after seeing increased call-buying activity in the name.
PFE 52-Week Range: $35.76 - $61.71
According to data from Benzinga Pro, the stock was up 4.54% at $55.27 at press time.
Photo: Felton Davis from Flickr.
