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Why Brooklyn ImmunoTherapeutics Crushed the Market Today

Why Brooklyn ImmunoTherapeutics Crushed the Market Today

Shares of Brooklyn ImmunoTherapeutics (NYSEMKT: BTX), no stranger to sharp stock price movements lately, zoomed more than 6% higher on Monday. The catalyst was an acquisition announced that morning by the clincial-stage biotech company. In a joint press release, Brooklyn and Novellus Therapeutics announced that the former has executed a letter of intent to acquire the latter.