This Biotech Stock Is Soaring 99% After Vertex Agrees to Takeover Deal

Crinetics Pharmaceuticals stock was surging on Tuesday after Vertex Pharmaceuticals said it had agreed to buy the biotech for $10 billion. Vertex slid 2.2%. Vertex said in a press release late Monday that it would buy Crinetics, which specializes in discovering and developing treatments for endocrine diseases, for $85 a share in cash.