Stock Alert: Forty Seven Surges 30%

(RTTNews) - Shares of Forty Seven Inc. (FTSV) surged nearly 30% on Friday morning driven by reports that Gilead Sciences Inc. (GILD) is seeking to acquire the cancer-therapy company.

According to Bloomberg, Gilead has approached Forty Seven, a biotech firm that specializes in cancer immunotherapy, and are discussing a number of options, including a partnership.

Forty Seven is a clinical-stage immuno-oncology company focused on developing novel therapies to activate macrophages in the fight against cancer. The stock had gained 192% in the past year through Thursday's close, giving it a market value of about $2.3 billion. FTSV is currently trading at $63.04, up $14.25 or 29.22%, on the Nasdaq.