Furiex Pharmaceuticals Inc, which is developing a drug for irritable bowel syndrome, has put itself up for sale, Bloomberg reported on Wednesday, citing people with knowledge of the matter.The company was working with Bank of America Corp and has started contacting companies to gauge their interest in a potential deal, according to the report. ()Furiex's stock climbed as much as 17 percent to $113.99 on Wednesday, valuing the company at $1.18 billion.The company's stock more than doubled on Feb. 4 when Furiex said its drug, eluxadoline, significantly alleviated diarrhea and abdominal pain associated with irritable bowel syndrome in two large late-stage trials.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC fell by 0.97% or $-0.16/share to $16.31. In the past year, the shares have traded as low as $10.98 and as high as $17.42. On average, 104661000 shares of BAC exchange hands on a given day and today's volume is recorded at 63787004.
Furiex Pharmaceuticals, Inc. is a drug development collaboration company. Shares of FURX traded higher by 2.71% or $2.6399/share to $100.04. In the past year, the shares have traded as low as $32.01 and as high as $121.97. On average, 240390 shares of FURX exchange hands on a given day and today's volume is recorded at 725068.
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