BUZZ-Transition Therapeutics more than doubles on buyout by Opko

Thu Jun 30, 2016 10:26am EDT
 
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** Canadian drug developer's U.S.-listed shares up 107 pct to $1.45; Toronto-listed stock up 112.4 pct at C$1.89

** U.S.-listed stock rises as much as 111.4 pct, biggest intraday percentage gain in 9 years

** Opko Health Inc to buy Transition, which is developing drug candidates for diabetes and obesity, among others, in all-stock deal valued at about $60 mln, or $1.55 per share

** Opko shares down slightly at $9.26

** Up to Wednesday's close, Transition's U.S.-listed shares had lost about two-thirds of their value this year, while Opko shares had fallen about 8 pct