CureVac (CVAC) shares skyrocketed 37% Thursday when the biotech firm agreed to be purchased by COVID-19 vaccine maker and fellow German agency BioNTech (BNTX) in an all-stock deal valued at about $1.25 billion. The acquisition boosts BioNTech’s transfer into producing new most cancers remedies.

CureVac mentioned its buyers will obtain roughly $5.46 value of BioNTech American Depositary Shares for every CureVac share they personal. {That a} 34% premium to yesterday’s closing value.

The corporate famous it’s “growing a novel class of transformative medicines in oncology and infectious ailments primarily based on messenger ribonucleic acid (“mRNA”).” BioNTech’s COVID-19 shot can also be mRNA-based. 

BioNTech co-founder and CEO Dr. Ugur Sahin mentioned the deal is aimed toward “advancing the event of revolutionary and transformative most cancers remedies and establishing new requirements of look after numerous varieties of most cancers within the coming years.”

The transaction is predicted to shut this yr and would see CureVac’s working subsidiary turn into an entirely owned subsidiary of BioNTech.

Shares of CureVac soared to their highest degree since December 2023. U.S.-listed shares of BioNTech had been little modified and stay down practically 8% year-to-date.

GameStop (GME) shares are dropping 17% in premarket buying and selling Thursday, a day after the video-game retailer announced a new fundraising effort.

The corporate late yesterday stated it was planning to supply $1.75 billion in convertible notes, with one other $250 million open to those that purchase in first. The announcement got here a day after GameStop reported a 17% year-over-year decline in first-quarter gross sales, which induced shares to fall greater than 5% in Wednesday buying and selling.

The brand new convertible word providing aligns with the retailer’s previously stated plans to boost new cash to permit it to purchase bitcoin, after adding the cryptocurrency to its company funding coverage in March.

Final month, GameStop disclosed that it had purchased 4,710 bitcoin, value barely greater than $500 million on the cryptocurrency’s present value of roughly $107,000. GameStop stated it plans to make use of the brand new funds for “basic company functions, together with making investments in a fashion in line with GameStop’s Funding Coverage and potential acquisitions.”

GameStop shares entered Thursday down about 9% for the reason that begin of the yr.

Oracle (ORCL) are leaping in premarket buying and selling Thursday, a day after the tech large’s fiscal fourth-quarter outcomes topped analysts’ estimates.

CEO Safra Catz stated the corporate’s fiscal 2025 was a “excellent yr,” however stated she believes fiscal 2026 “shall be even higher as our income development charges shall be dramatically larger.”

The report made a number of analysts extra bullish on Oracle, as the common worth goal compiled by Seen Alpha is about $194, up roughly $20 from what it was on Wednesday morning, hours earlier than the earnings report was launched.

Oracle shares, that are up 8% at greater than $190 an hour earlier than the bell, are on tempo to open at their highest degree since $191.51 on Jan. 22.