Ignyta (RXDX) agrees to be acquired by Roche (RHHBY)
Looking to broaden its oncology portfolio, Roche (OTCQX:RHHBY) is paying $1.7B for Ignyta (NASDAQ:RXDX), which has a suite of gene therapies aimed at killing off underlying diseases that drive cancerous tumor growth. The Swiss healthcare firm will pay $27 per share for the U.S. drugmaker, representing a premium of about 74% to the stock's closing price on Thursday.
Ignyta agrees to be acquired by Roche (RHHBY) for $27.00/share in cash, or approximately $1.7 bln
This price represents a premium of 74% to Ignyta's closing price on 21 December 2017 and a premium of 71% and 89% to Ignyta's 30-day and 90-day volume weighted average share price on 21 December 2017, respectively.
Ignyta's lead molecule entrectinib is an orally bioavailable, CNS-active tyrosine kinase inhibitor being developed for tumours that harbor ROS1 or NTRK fusions. An ongoing pivotal phase 2 clinical trial will support, if successful, dual NDA submissions. Entrectinib targets tumours with one of two genetically defined gene rearrangements: ROS1 fusions in non-small cell lung cancer (NSCLC), and NTRK fusions across a broad range of solid tumours.
The closing of the transaction is expected to take place in the first half of 2018.
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