Verve Therapeutics’ stock was rallying by a record 80% on Eli Lilly’s premium purchase price for the drug-development company.

Boston-based Verve is a rare example of a gene editing company targeting a disease that affects a large population, offering better commercial prospects.

Eli Lilly will acquire Verve Therapeutics for up to $1.3 billion, the companies said on Tuesday. Verve is developing therapies targeting genes that regulate cholesterol in the liver. (Reporting by Sriparna Roy in Bengaluru;