Vigil Neuroscience surge after Sanofi to buy co in $470 million deal

Vigil Neuroscience shares VIGL.O jump 245% to $8 premarket as Sanofi to acquire firm in $470 million deal to boost its neurological pipeline

Sanofi would pay $8 per share to Vigil shareholders, who would also be eligible for a contingent value right (CVR) of $2 per share

CVR is tied to a drug that Vigil is developing for the potential treatment of Alzheimer's disease

Shares of Vigil, which have lost a third of their value in the past 12 months, closed at a valuation of about $100 mln on Wednesday