By Ben GlickmanShares of Cytokinetics jumped Monday after the Wall Street Journal reported the company was close to being bought by Novartis. The stock was up 16% to $109.22 after the news broke, reversing declines earlier in the day. A deal could be finalized as soon as this week, people familiar with the situation told WSJ. Cytokinetics shares surged last month after releasing positive data for a potential treatment for hypertrophic cardiomyopathy, a genetic heart condition. Write to Ben Glickman at ben.glickman@wsj.com(END) Dow Jones NewswiresJanuary 08, 2024 13:28 ET (18:28 GMT)Copyright (c) 2024 Dow Jones & Company, Inc.

Source: Wall Street Journal January 08, 2024 19:06 UTC