Jan. 8, 2024 8:00 am ET

Merck & Co.has struck a deal to buy clinical-stage immunotherapy company Harpoon Therapeutics for about $680 million.

Merck on Monday said it will pay $23 a share in cash for Harpoon, more than double Friday’s closing price of $10.55 for the South San Francisco, Calif., company.

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This post first appeared on wsj.com

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