The Mississauga, Ont.-based biotech entered into an agreement that will see the American pharmaceutical giant acquire all its outstanding shares it doesn’t already own for US$18.50 each. (The Logic)

Talking point: Trillium’s shares on the Toronto Stock Exchange reached a high of $22.60 in Monday trading, up about 189 per cent. Trillium, which develops cancer therapies, said that “Pfizer’s global reach and deep capabilities” will help expedite its programs. As a result of the acquisition, the TSX will lose its most valuable biotech company. In July, the exchange lost what was its most valuable company at the time, Aurinia Pharmaceuticals, when the biotech delisted on the TSX in favour of a Nasdaq-only listing. The exchange suffered a nearly two-decade drought of Canadian biotechs listing solely on the TSX. Victoria-based Eupraxia ended that streak when it went public earlier this year.