Finance Watch: Coronavirus-Related Stock Market Meltdown Didn’t Stop Passage Bio IPO
Public Company Edition: The gene therapy firm’s IPO priced at $18 and ended its first day up 23.3% at $22.20 but fell to $21.50 when stocks recovered on 2 March. Also, RedHill raised $115m for product launches and Movantik purchase, and Avadel raised $65m to compete with Jazz.
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Gilead will pay $4.9bn to acquire Forty Seven and its potential first-in-class anti-CD47 agent magrolimab. A fast-track development effort in myelodysplastic syndrome will be the initial focus for that asset.
Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events and approvals announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.
In a shocking and revealing account, a primary investigator of the front-runner antiviral drug for the coronavirus in China expresses concerns over finding enough patients for the study Wuhan, the outbreak's epicenter.