The Daily Biotech Pulse: Merck's Seagen Buyout Advances, Adverum Restructures, Pharmacists Get OK To Prescribe Pfizer COVID-19 Pill

Here's a roundup of top developments in the biotech space over the last 24 hours: Stocks In Focus Merck's Potential Buyout Of Seagen Expected Within Next Few Weeks Merck & Co Inc. (NYSE: MRK ) is in advanced talks to acquire Seagen Inc. (NASDAQ: SGEN ). A purchase agreement is expected in the next few weeks, according to the Wall Street Journal citing people familiar with the matter. The potential deal could be worth more than $40 billion, or above $200 a share. FDA Institutes Clinical Hold On DiaMedica's Late-Stage Stroke Trial The FDA placed a clinical hold  on DiaMedica Therapeutics Inc.'s  (NASDAQ: DMAC ) Phase 2/3 ReMEDy2 trial evaluating DM199 to treat acute ischemic stroke patients.  The company submitted three serious adverse event reports related to clinically significant transient hypotension (low blood pressure) occurring shortly after initiating the intravenous dose of DM199.  DMAC shares closed 36.1% lower at $1.29 during after-hours trading. CytomX's Breast Cancer Candidate Meets Primary Goal Of Objective Response Rate CytomX Therapeutics Inc's  (NASDAQ: CTMX ) Phase 2 study of praluzatamab ravtansine in hormone receptor-positive/human epidermal growth factor receptor 2-non-amplified breast cancer (Arm A) Full story available on Benzinga.com