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Actionable news in CYNA: CYNAPSUS THERAPEUTICS Inc COMMON SHARES,

Why Cynapsus Therapeutics (CYNA) Stock Is Soaring Today

NEW YORK (TheStreet) -- Shares of Cynapsus Therapeutics (CYNA) were spiking 115.99% to $39.65 on heavy trading volume mid-Thursday afternoon after the Toronto-based pharmaceutical company announced it would be purchased by privately-owned Marlboro, MA-based drugmaker Sunovion Pharmaceuticals for about $624 million.

The definitive agreement values Cynapsus at $40.50 per share and will be funded by cash on hand, according to a company statement.

The...


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