Cyberark Software Ltd (NASDAQ:CYBR) shares are 18% higher after Reuters published an article stating that Check Point Software Technologies Ltd. (NASDAQ:CHKP) is in preliminary talks to purchase CyberArk. Check Point is one of the largest cyber security companies in the world and had $3.6 billion in cash at the end of the third quarter. Cyberark Software Ltd (NASDAQ:CYBR) is bite-sized in comparison, with a market cap of under $1.5 billion. If an acquisition does occur, the deal will presumably come at a nice premium to Cyberark’s unaffected price and make the 21 elite funds that hold CyberArk shares very happy.
Shares of nano-cap Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) have surged by over 15% after the FDA’s Psychopharmacologic Drugs Advisory Committee gave a 12-to-5 positive vote recommending the approval of Titan’s Probuphine subdermal implant. If approved, the Probuphine subdermal implant’s indication would be for maintenance treatment of opioid addiction. The drug’s PDUFA date is February 27. Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) shares are still down year-to-date despite today’s gains, however.