Gilead JAKs up oncology presence with $510m YM buy

YM BioSciences surged 76.7% to close at $2.88 per share on 12 December after Gilead Sciences said it would pay $2.95 per share to buy YM and expand its oncology pipeline, valuing the Canadian developer of the selective janus kinase (JAK) 1 and 2 inhibitor CYT387 at US$510 million.