Forte Biosciences shares rose 38.9% to $76.10 in pre-market trading after argenx SE announced plans to acquire the company for $77 per share.

Argenx plans to buy Forte Biosciences for $2.2 billion, expanding its pipeline of drugs that could treat multiple autoimmune diseases.

Forte Biosciences shares rose 38.9% to $76.10 in pre-market trading after argenx SE announced plans to acquire the company for $77 per share.