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

Shares of Vigil Neuroscience VIGL.O jump 242% to over 1-year high of $7.91 as Sanofi to acquire firm in $470 mln deal to boost its neurological pipeline

*Stock set of best day on record, if gains hold

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

*Brokerage Leerink Partner says the acquisition aligns with Sanofi's "emphasized bolt-on M&A as a capital allocation priority"

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

*Last year, Sanofi SASY.PA invested $40 mln in Vigil,s gaining first negotiation rights for its Alzheimer's drug program

Brokerage expects mergers and acquisitions of SMID-Cap pharma firms to "accelerate, based upon recent large-cap quarterly results call commentary"

Including session move, stock more than four-fold YTD