Why Centessa Stock Soared Today

By Joe Tenebruso – Mar 31, 2026 at 9:36PM ESTKey PointsCentessa possesses a promising sleep medicine pipeline.The clinical-stage company's experimental therapies have blockbuster potential.Shares of Centessa Pharmaceuticals (CNTA +44.02%) surged on Tuesday after the drugmaker struck a deal to be acquired by Eli Lilly (LLY +3.74%) for as much as $7.8 billion. Image source: Getty Images. An enticing offer for Centessa's investors Under the terms of the deal, Lilly would purchase Centessa for $38 per share in cash. That's a premium of nearly 38% to the healthcare stock's closing price on Monday. Centessa's shareholders would also receive a non-transferrable contingent value right, which could be valued at up to $9 per share if the pharmaceutical company's investigational drugs achieve certain regulatory milestones. The transaction is projected to close in the third quarter, subject to shareholder and regulatory approval. ExpandNASDAQ: CNTACentessa Pharmaceuticals PlcToday's Change(44.02%) $12.14Current Price$39.72Key Data PointsMarket Cap$3.7BDay's Range$39.57 - $40.2652wk Range$9.60 - $40.26Volume48MAvg Vol1.4MGross Margin93.96% Advancing neuroscience Centessa is developing a novel class of drugs, known as orexin receptor 2 (OX2R) agonists, to treat daytime sleepiness and other neurological conditions. Its most promising experimental drug, cleminorexton, showed best-in-class potential in Phase 2 clinical studies for severe sleep disorders, including narcolepsy and idiopathic hypersomnia. "Orexin receptor biology represents one of the most compelling mechanistic opportunities in neuroscience as a direct intervention on the master switch of the sleep-wake cycle," Lilly executive Carole Ho said. "Centessa has assembled a portfolio with the breadth and depth to improve wakefulness across a broad array of indications." Blockbuster potential Lilly is wisely using the windfall from its highly successful GLP-1 drugs Mounjaro and Zepbound to diversify its development pipeline. Centessa's experimental therapies could become top sellers in a potential $20 billion market for treatments for severe sleep conditions, according to investment bank Oppenheimer. Read NextMar 31, 2026 •By Eric VolkmanWhy Biogen Stock Sank While the Market Soared on ThursdayMar 31, 2026 •By Motley Fool YouTubeExelixis: A Strong Contender in the Cancer Drug MarketMar 31, 2026 •By Prosper Junior BakinyIs This Weight Loss Drug Stock a Buy After a New Approval?Mar 31, 2026 •By Prosper Junior BakinyThe Dividend King That's Raised Its Payout for 63 Consecutive YearsMar 31, 2026 •By James BrumleyWhy Agios Pharmaceuticals Stock Is Up More Than 21% TodayMar 31, 2026 •By Eric Volkman2 Healthcare Stocks Wall Street Analysts Say Could Rally 60% or MoreAbout the AuthorJoe Tenebruso is a contributing Motley Fool stock market analyst with more than 3,000 financial bylines to his name. Joe was an investment analyst for Stock Advisor, Income Investor, Crypto Society, and other top-rated investing services. He also managed Tier 1 Investments, a market-crushing real-money portfolio with 24.58% annualized returns. Joe graduated summa cum laude from Rutgers University with a Bachelor of Science in Finance.tmfguardianX@Tier1InvestorStocks MentionedCentessa Pharmaceuticals PlcNASDAQ: CNTA$39.66(+43.80%)+$12.08Eli LillyNYSE: LLY$918.10(+3.55%)+$31.47OppenheimerNYSE: OPY$89.30(+1.99%)+$1.74*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.