Gilead JAKs up oncology presence with $510m YM buy
This article was originally published in Scrip
Executive Summary
YM BioSciences surged 76.7% to close at $2.88 per share on 12 December after Gilead Sciences said it would pay $2.95 per share to buy YM and expand its oncology pipeline, valuing the Canadian developer of the selective janus kinase (JAK) 1 and 2 inhibitor CYT387 at US$510 million.
You may also be interested in...
Finance Watch: Rakuten Aspyrian Raises $150m VC Round For Laser-Activated Cancer Drugs
Private investors, including Japanese e-commerce mogul Hiroshi Mikitani, backed a $150m Series C round for Rakuten Aspyrian and its photoimmunotherapy platform. Also, pharma-backed therapeutic video game developer Akili boosts Series C to $68m, and Summit garners additional BARDA funding.
Gilead's Late-Stage R&D Misfire Gives Respite To Competing Myelofibrosis Therapies
The JAK inhibitor momelotinib meets some endpoints but misses others in two late-stage clinical studies in myelofibrosis, a condition that has proved recalcitrant to various new approaches, leaving Incyte/Novartis’s marketed product ruxolitinib as one of the few successes.
Eisai/Biogen’s Leqembi Gets Some Medicare Coverage Certainty In CMS Update
CMS said Medicare will cover anti-amyloid antibodies for early Alzheimer’s disease upon traditional approval from the US FDA if prescribed by doctors participating in a patient registry.