Biotechnology company InterMune Inc (ITMN.O), known for its drug to treat lung scarring, hired Goldman Sachs (GS.N) to help it weigh a possible sale, a source familiar with the situation said on Wednesday. InterMune, which has a market capitalization of about $2.7 billion, declined to comment. Goldman could not be immediately reached for a comment. Shares of InterMune rose $2.15, or 4.7 percent, to $48.20 in afternoon trading on Nasdaq. The stock has gained roughly 6.3 percent over the past 12 months. Goldman has been conducting an auction of InterMune for more than a month and some potential bidders have been spooked by the biotechnology company's expectations for a sale price, Bloomberg news reported. DealReporter previously reported that InterMune had hired an adviser to explore a sale.
InterMune, Inc. (InterMune) is a biotech company focused on developing and commercializing therapies in pulmonology and hepatology. Shares of ITMN traded higher by 4.84% or $2.23/share to $48.28. In the past year, the shares have traded as low as $8.34 and as high as $51.71. On average, 823425 shares of ITMN exchange hands on a given day and today's volume is recorded at 2740825.
The Goldman Sachs Group, Inc. (Goldman Sachs) is a bank holding and a global investment banking, securities and investment management company. Shares of GS fell by 0.69% or $-1.06/share to $152.21. In the past year, the shares have traded as low as $129.50 and as high as $175.34. On average, 4792950 shares of GS exchange hands on a given day and today's volume is recorded at 2022591.
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