Nuvalent Stock Jumps 39% on Surprise GSK Cancer-Drug Deal -- Barrons.com

Dow Jones

Jun 09

By George Glover

Nuvalent stock was soaring Tuesday after British pharmaceutical company GSK said it had agreed to buy the cancer-drug developer for $10.6 billion.

Shares of Nuvalent jumped 39% to $122.90. GSK's American depositary receipts were flat at $50.65.

GSK is making a tender offer for Nuvalent at $124 a share in cash, a 40% premium to where Nuvalent stock traded as of Monday's closing bell. The biotech has two experimental lung-cancer drugs in late development, zidesamtinib and neladalkib.

The deal may rattle GSK shareholders, given it would be the company's biggest acquisition in eight years.

GSK swapped its oncology business for Novartis' vaccines division in a 2014 deal, but is now trying to strengthen its pipeline of cancer drugs.

Write to George Glover at george.glover@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

June 09, 2026 10:00 ET (14:00 GMT)

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GSK's American depositary receipts were flat at $50.65. \n\n\n  GSK is making a tender offer for Nuvalent at $124 a share in cash, a 40% premium to where Nuvalent stock traded as of Monday's closing bell. The biotech has two experimental lung-cancer drugs in late development, zidesamtinib and neladalkib. \n\n\n  The deal may rattle GSK shareholders, given it would be the company's biggest acquisition in eight years. \n\n\n  GSK swapped its oncology business for Novartis' vaccines division in a 2014 deal, but is now trying to strengthen its pipeline of cancer drugs. \n\n\n  Write to George Glover at george.glover@dowjones.com \n\n\n   This content was created by Barron's, which is operated by Dow Jones & Co. 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