San Diego-based clinical stage biotech firm Receptos has reportedly attracted acquisition offers from AstraZeneca, Gilead, and Teva, but is holding out for higher bids.
According to Bidness Etc, market sources say Receptos rejected AstraZeneca's $200-per-share takeover bid and is currently unwilling to accept any offer that values its shares below $350.
Gilead Sciences and Teva are reportedly also vying for Receptos with proposed bids up to $280 per share.
Receptos is a hot acquisition target due to its two lead investigational drugs -- RPC1063, for multiple sclerosis and Crohn’s disease, and RPC4046 for the treatment of eosinophilic esophagitis.
Read the Bidness Etc story