Edgewise Therapeutics stock rocketed Monday after Servier agreed to buy the biotech's muscular dystrophy business.

The French drugmaker has agreed to acquire an experimental tablet from Edgewise Therapeutics that some bullish analysts say could eventually hit peak sales of over $2 billion.

The French pharma firm Servier is buying an experimental muscular dystrophy drug from Edgewise Therapeutics for $1.55 billion upfront.