By Colin Kellaher
Shares of Aurinia Pharmaceuticals Inc. rose more than 10% in premarket trading Monday, adding on to Friday's gains, after Bloomberg reported that Bristol Myers Squibb Co. has expressed interest in acquiring the smaller biopharmaceutical company.
Aurinia shares, which surged nearly 27% on Friday to close at a 52-week high of $28, were recently up 10.7% to $31 in premarket trading.
Bristol Myers recently approached the Victoria, British Columbia, company about an acquisition, Bloomberg reported Friday, citing people familiar with the matter.
The sources said New York-based Bristol Myers hasn't made any final decision and could opt against any potential deal.
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(END) Dow Jones Newswires