BUZZ-PepGen, Dyne rise after Novartis' $12 bln deal to buy rival Avidity

Reuters
2025.10.27 15:24
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Shares of PepGen rose 21% to $5.53, while Dyne Therapeutics surged 37.5% to $23.54 following Novartis' $12 billion acquisition of Avidity Biosciences. Both companies are developing treatments for rare muscle disorders. RBC Capital Markets predicts Dyne will trade significantly higher due to its similar platform to Avidity, which has a market cap of $2.4 billion. Year-to-date, Dyne is up 1.8% and PepGen has increased 47.8%.

Shares of drug developer PepGen (PEPG.O) up 21% at $5.53, while Dyne Therapeutics (DYN.O) rise 37.5% at $23.54 Rival Avidity Biosciences (RNA.O) on Sunday agreed to be acquired by Swiss drugmaker Novartis (NOVN.S) for about $12 billion in cash to bolster its portfolio of treatments for rare muscle disorders

Pepgen and Dyne are also currently developing drugs to treat rare muscle disorders such as myotonic dystrophy type 1

“We anticipate DYN to trade materially higher tomorrow given similar platform, not materially behind RNA and $2.4b cap”- RBC Capital Markets

Including session moves, DYN up 1.8% and PEPG up 47.8% YTD

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