CeNeS' price soars 70% on confirmation of takeover talks

UK-based CeNeS Pharmaceuticals' confirmation that it is involved in potential takeover discussion saw its share price surge some 70% in trading on London's Alternative Investments Market, on February 6. According to a report in the Financial Times, CeNeS, which prior to the news had seen its share price decline almost 90% over the last year, is of potential interest due to progress made with the development of its painkiller M6G (morphine-6-glucuronide; Marketletters passim). While the Cambridge-headquartered firm did not name names, observers speculated that USA-based groups Endo Pharmaceuticals and Purdue Pharmaceuticals could be among the potential suitors.