Vertex Pharmaceuticals to Acquire Crinetics Pharmaceuticals for $10 Billion. Stock Soars in Pre-Market

July 7, 2026

Breaking News

Image source: Pexels

Vertex Pharmaceuticals has agreed to acquire Crinetics Pharmaceuticals for $10 billion, adding a biopharmaceutical company that specializes in treatments for endocrine diseases to its portfolio, which is primarily focused on cystic fibrosis therapies.

Vertex, the Boston-based biotechnology company, said it will acquire Crinetics for $85 per share in cash. The company pegged the transaction's value at $8.8 billion after accounting for estimated net cash acquired.

Shares of Crinetics more than doubled after hours to $84.77, after closing the regular session at $42.03.

The stock has gained more than 43% over the past year but is down 9.7% in 2026.

Vertex said the acquisition would strengthen its pipeline and could potentially increase its annual revenue by $5 billion through Crinetics-developed drugs Palsonify and Atumelnant.

Vertex finished 2025 with $12 billion in total revenue, with most of its business coming from cystic fibrosis drugs. WSJ reports.

EdgeUp

🪙 Bonk Nosedives 8% After Attackers Rob $20 Million From Memecoin's Treasury

Bonk fell 8% on Monday after hackers drained nearly $20 million worth of the memecoin from the project's treasury.

BonkDAO, the decentralized autonomous organization tied to the Solana-based cryptocurrency, said it became the target of a "malicious governance proposal," resulting in the loss of tokens.

BonkDAO added that it has traced the wallets linked to the hack and is coordinating with major exchanges, bridges, and the Solana Foundation to manage the situation.

"Law enforcement has been notified. BonkDAO continues to work with relevant parties to recover funds and identify those responsible," the organization said. Benzinga reports.

💾 Why Is Micron Technology Stock Falling Tuesday?

Micron Technology Inc. stock fell about 6% in Tuesday’s pre-market session as semiconductor stocks came under pressure following a broad tech selloff.

The weakness also followed declines in South Korean memory chipmakers after Samsung Electronics’ preliminary second-quarter results sparked a "sell-the-news" reaction, even as the company reported a sharp jump in operating profit. Benzinga reports.

🧑🏼‍🚀 SpaceX is entering the Nasdaq 100 — here's what it could mean for the stock

Nasdaq rewrote the playbook for SpaceX.

The world's largest IPO is entering the Nasdaq-100 only 15 trading days after it started trading, pulling SpaceX into one of the market's biggest passive-investing machines before most of its shares are even available to trade.

That creates a stock-price setup investors do not usually see at this scale. Yahoo Finance reports.

💳 Fiserv Stock Is Trending Overnight

Fiserv, Inc. shares are trending overnight after a Reuters report said the payments technology company is exploring the sale of its STAR debit card network.

Fiserv closed Monday's regular session at $51.78, down 1.05%. Shares rebounded in after-hours trading, rising 7.49% to $55.66.

Fiserv is a financial technology company that provides payment processing, digital banking, merchant acquiring, and account processing solutions to financial institutions and businesses. Benzinga reports.

📱 Samsung's record profits aren't enough for investors anymore

Samsung Electronics signaled another blockbuster quarter on Tuesday, forecasting a third straight record operating profit as demand for artificial intelligence chips continued to fuel booming memory sales.

But investors weren't impressed.

Following the forecast, Samsung's stock tumbled as much as 10% before closing down 7%.

The heavyweight stock dragged the Kospi to a nearly 5% loss, while rival SK Hynix ended 6% lower. Yahoo Finance reports.

Top 5 Movers in Early Pre-Market

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM ET). Stock Analysis reports.

1) CRNX: Crinetics Pharmaceuticals, Inc.
Total gain: +99.03%

2) TDTH: Trident Digital Tech Holdings Ltd
Total gain: +65.39%

3) TDIC: Dreamland Limited
Total gain: +22.84%

4) EDHL: Everbright Digital Holding Limited
Total gain: +21.72%

5) WFCF: Where Food Comes From, Inc.
Total gain: +13.67%

Yesterday’s Biggest Movers

The closing price of the top three market percent gainers trading near or above $3 on July 6.

(All pricing and percent gains are based on regular market trading hours from 9:30 AM to 4:00 PM ET) Stock Analysis reports.

1) SVC: Service Properties Trust
Total gain: +402.89%
The stock appeared to be moving on no notable news.

2) LHSW: Lianhe Sowell International Group Ltd
Total gain: +277.78%
The stock appeared to be moving on no notable news.

3) FXHO: UTime Limited
Total gain: +171.53%
The stock appeared to be moving on no notable news.

Today’s Notable Earnings

(Estimate and Actual numbers represent Earnings Per Share in US Dollars)

KRUS: Kura Sushi USA
Q3 2026
After Market Close
Estimate: -0.030
Actual: N/A

EPAC: Enerpac Tool Group
Q3 2026
After Market Close
Estimate: 0.490
Actual: N/A

PENG: Penguin Solutions
Q3 2026
After Market Close
Estimate: 0.550
Actual: N/A

Parting Thoughts

“A prudent person profits from personal experience; a wise one from the experience of others.”

– Joseph Collins

Sourced in: Collins quotations — GoodReads.

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