By Stephen Nakrosis

Shares of MyoKardia Inc. are trading higher in Monday's market, following news the heart drug maker agreed to be acquired by Bristol Myers Squibb in a $13.1 billion deal.

At 11:32 a.m. EDT, MyoKardia's shares were trading 58.06% higher at $220.65. Volume at the time topped 7.7 million shares, above the 65-day average volume of 383,923.

Year to date, MyoKardia shares are up over 202%.

The two companies announced the agreement before the bell Monday, which will see a subsidiary of Bristol Myers Squibb acquire MyoKardia for $225 per share in an all-cash deal.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

October 05, 2020 11:59 ET (15:59 GMT)

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