TESARO Inc (NASDAQ:TSRO) shares fell sharply today as the company has been unable to find a buyer.

The biotech company said it does not comment on market rumors, but sources familiar with the matter report that Tesaro has been unable to find a suitable takeover candidate. It had certain expectations regarding per-share price, and these were not met by any of the parties that expressed interest in bidding for it.

Back in late May, the Wall Street Journal reported that Tesaro was seeking a company to buy the biotech corporation, which had a $7.4 billion market value at the time. The article claimed the company may be able to get more than $9 billion out of the deal, but nothing has materialized since.

Tesaro’s value surged in March as the company garnered approval from the U.S. Food and Drug Administration regarding one of its cancer treatments. The medication in question was Zejula, which is the first FDA-approved poly ADP ribose polymerase (PARP) inhibitor, which treat multiple types of cancer such as ovarian cancer.

The company also received positive news from the European Commission earlier this year as its Rolapitant oral medication was approved by the agency, while it is still awaiting FDA approval. Tesaro’s medication prevents nausea and vomiting induced by chemotherapy.

TSRO stock fell 7% Thursday.