Benzinga | Sep 27, 2021 05:53AM EDT

Acceleron In Advanced $11B Buyout Talks: Bloomberg

* Frothy rumors about possible M&A discussions at Acceleron Pharma Inc (NASDAQ:XLRN) were capped with a Bloomberg report asserting that the Company is potentially in advanced talks for an $11 billion buyout deal.

* Acceleron stock opened at $136.6 on 20 September and closed at $167.6 on 24 September, almost a jump of 22% during the period.

* According to people familiar with the matter, Acceleron could be acquired by a large pharmaceutical company for about $180 a share in cash, Bloomberg reported. However, Bloomberg was unable to identify any bidders in the deal.

* Bristol Myers Squibb & Co (NYSE:BMY) is one likely bidder, with an 11.5% stake in Acceleron.

* Bloomberg added a lineup of acquisitive players, including Sanofi SA (NASDAQ: SNY), Pfizer Inc (NYSE: PFE), Amgen Inc (NASDAQ: AMGN), Merck & Co Inc (NYSE: MRK), Gilead Sciences Inc (NASDAQ: GILD) and Roche Holdings AG (OTC: RHHBY).

* Acceleron has gained ground with their PAH drug sotatercept, fronting positive data while their pivotal program is underway.

* Related: Ongoing Treatment With Acceleron's Sotatercept Continue To Show Benefit In PAH Patients.

* The Company is executing its Phase 3 sotatercept development plan for pulmonary arterial hypertension (PAH).

* It is also expanding the development of sotatercept into Group 2 pulmonary hypertension, with the CADENCE Phase 2 trial expected to initiate this year.

* Price Action: XLRN stock closed at $167.65 on Friday.