Shares of Myovant Sciences (NYSE: MYOV) were skyrocketing 37.9% as of 11:32 a.m. ET on Monday. The huge gain came after the company announced that its board of directors' special committee rejected a proposal from Japanese drugmaker Sumitomo Pharma and its wholly owned subsidiary Sumotivant Biopharma to fully acquire Myovant. Sumitovant already owns roughly 52% of Myovant's outstanding shares.
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