Happy Monday and welcome to Bullish Rippers! Stocks are recovering after some of the volatility last week has started to shore up with new gains. President Trump is expected to be discharged from the hospital this evening after his COVID-19 diagnosis last week.

Today’s Rippers are biotech, biotech, biotech. A few months ago, we foretold that we were entering the biotech and pharma M&A season. For the unacquainted, this is the time of year where bright-eyed biotechs with good data get bought by large-cap pharmas looking for new drugs to exploit. In the case of today, three companies are jumping over 20% to all-time highs:

❤️ MyoKardia, our Ripper of the Day, is jumping 58% as Bristol-Myers plans to shell out $13.1 billion for the heart-drug maker. The acquisition of MyoKardia, as their name implies, provides the company with a promising pipeline of heart drugs. This comes a year after Bristol-Myers acquired Celgene for $74 billion, which ultimately made the company extremely reliant on cancer therapies. The purchase of $MYOK is aimed at diversifying their business.

💉 Another heart-drug company, Cytokinetics, was raised on $MYOK being bought by $BMY today. $CYTK has a series of cardiac and skeletal therapeutics, including two in collaboration with Amgen. Their lead indication, Omecamtiv Mecarbil, is indicated for heart failure. They are up 22% on the news of the acquisition, plus reporting of new science data in anticipation of their pivotal clinical study.

🧬 A $4 billion biotech targeting genetic diseases has decided to acquire Eidos Therapeutics in a cash and stock deal valued at $2.8 billion. BridgeBio, which already owned a large sum of Eidos, offered $73.26 in cash or 1.85 shares of $BBIO for each share of $EIDX tendered. It’s a hefty acquisition, but a consolidation which will enable $BBIO to maximize the value in their existing portfolio of clinical drugs. $EIDX jumped 41%.

That wraps our Rippers list! Check back on Wednesday to see more about the stocks making moves. 🔥🔥🔥

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