By Colin Kellaher

Shares of Forma Therapeutics Holdings Inc. took flight Thursday after the clinical-stage biopharmaceutical company agreed to be acquired by Denmark's Novo Nordisk AS for about $1.1 billion.

Novo said it would pay $20 a share in cash for Forma, about 49% above Wednesday's closing price of $13.40 for the Watertown, Mass., company and a more than 90% premium to Forma's 30-day volume-weighted average share price.

The deal is slated to close by the end of the year.

Forma shares were recently changing hands at $19.79, up nearly 48%.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

September 01, 2022 10:04 ET (14:04 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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