Regulus Therapeutics' stock price doubles on Novartis's buyout offer

Shares of drug developer Regulus Therapeutics RGLS.O more than double to over 3-year high of $7.93

Stock set for biggest single-day pct gain on record

Novartis NOVN.S is buying Regulus for up to $1.7 bln to gain access to an experimental kidney disease drug called farabursen

Deal includes an upfront payment of $7 per share in cash, or about $800 million, and another $7 per share if farabursen gets regulatory approval

Deal expected to close in H2 2025

Including session move, stock up nearly 5-fold YTD