Thursday, July 14, 2011

Icagen Jumps On Takeover Chatter

Shares of Icagen Inc. (NASDAQ: ICGN) jumped more than 23% on Thursday on speculation that the company could be be acquired by development partner Pfizer Inc. (NYSE: PFE), which already holds a roughly 14% stake in the biotech group. The two companies acknowledged in late June that they were in talks to possibly expand their partnership, which could include a merger. cagen, Inc., a biopharmaceutical company, focuses on the discovery, development, and commercialization of orally-administered small molecule drugs that modulate ion channel targets. . The company also engages in conducting research and development activities in various disease areas, including epilepsy, pain, and inflammation. Stay tune for more.

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