Shares of Durata Therapeutics Inc. (NASDAQ: DRTX), engaged in the
development and commercialization of therapeutics for patients with infectious
diseases and acute illnesses, registered gains during each of the past two
consecutive trading sessions with a significant number of shares exchanging
hands. DRTX was the top performer of U.S. healthcare sector, skyrocketing 74.6% and closed at its 52-week high of $24.24 Monday, while recording significant trading volumes of 8.0 million shares. DRTX breached all its key technical resistance levels of 30-Day, 50-Day and 200-Day DMAs at $14.72, $14.65 & $14.28 respectively. Recently, Actavis PLC (NYSE: ACT) agreed to acquire Durata Therapeutics Inc (NASDAQ: DRTX) in an acquisition deal amounting $675 million, where in DRTX shareholders would receive $23 a share in cash and would also entitle to receive additional cash payments of up to $5.00 per share if certain regulatory or commercial milestones related to Durata’s lead product Dalvance are achieved. During the past 5-trading sessions, DRTX gained 85.9% with daily average trading volumes of 2.1 million shares, while the stock accumulated over 62.4% during the past one month with daily average trading volumes of 555,344 shares. The stock is up 89.5% year-to-date.
Company Description:
Durata Therapeutics, Inc (NASDAQ: DRTX) develops, acquires, and commercializes therapeutics for the treatment of infectious diseases. The Company focuses on antibiotic treatments for acute bacterial skin and skin structure infections for the specialist physician market.
1-Year Stock Chart:
Source: Bloomberg
