6 Trillion Won Rare Disease Biotech, Acquisition Premium Fully Eroded

Rare-disease biotech Amicus Therapeutics (Nasdaq: FOLD) closed unchanged at $14.37 on the Nasdaq yesterday. Trading volume was about 3.48 million shares, and market capitalization stood at approximately $4.5 billion (₩6 trillion).

The stock spiked late last year when BioMarin offered to acquire Amicus for $14.50 per share—about $4.8 billion in cash (₩6.5 trillion). Since that offer, the shares have traded sideways just below the bid price. The merger agreement was signed in December 2025, and, pending regulatory and shareholder approvals, the transaction is slated to close by Q2 2026.

Amicus develops and markets therapies for rare genetic diseases such as Fabry and Pompe disease. Its oral treatment Galafold, together with the Pomfility–Oplfolda combination regimen, has driven the company’s revenue growth. Sales are projected to reach roughly $630 million (₩850 billion) in 2025—a double-digit increase year-over-year—bringing the company close to profitability.