ARMO BioSciences: Lilly to Acquire ARMO BioSciences for $1.6 Billion

On May 10, 2018, Eli Lilly announced an agreement to acquire ARMO BioSciences for $50 per share, or approximately $1.6 billion, in an all-cash transaction. ARMO is a late-stage immuno-oncology company based in Redwood City, CA, that is developing a pipeline of proprietary product candidates desi