Coley Pharmaceutical to be bought out by Pfizer
Biopharmaceutical company, Coley Pharmaceutical Group, Inc. (Nasdaq: COLY), reported this morning that it is being acquired by Pfizer Inc (NYSE: PFE) for $8 per share, representing an enterprise value of $164 million.
Shares of Coley Pharmaceutical rocketed 159.67%, or $4.79, to $7.79 out of the gate. Shares of Coley Pharmaceutical have been trading in the range of $2.81 to $13.50 for the past 52 weeks.
