Merck Acquires Harpoon Therapeutics for $680 Million

The deal, expected to close in the first half of this year, is part of Merck's strategy to expand its oncology portfolio.

Merck & Co. has agreed to buy Harpoon Therapeutics Inc. for about $680 million, paying $23 per share, a 118% premium to Harpoon's closing price on Friday.
Harpoon's shares more than doubled after the announcement, reaching their highest level since the summer of 2022.
The acquisition is part of Merck's strategy to expand its reach in the oncology treatment sector, following the success of its cancer-fighting medication Keytruda.
Harpoon’s lead experimental treatment, HPN328, uses T-cell engagers to trigger an immune system response to attack cancer cells in patients suffering from small cell lung cancer and neuroendocrine tumors.
The transaction is expected to close in the first half of this year.