Nearly two years after Gilead Sciences Inc. spent $4.9 billion to buy Forty Seven Inc. and its lead candidate, magrolimab, the FDA clamped a partial clinical hold on five of Gilead’s clinical trials combining the therapy with azacitidine. The cause, according to Gilead’s management, is “an apparent imbalance in investigator-reported suspected unexpected serious adverse reactions between study arms.” The company said it has not identified a clear trend in the adverse reactions or new safety signals.
Gilead Sciences Inc. will acquire Forty Seven Inc. for $4.9 billion, or $95.50 per share in cash, bringing Gilead magrolimab, an anti-CD47 monoclonal antibody being developed to treat several cancers, including myelodysplastic syndrome (MDS), acute myeloid leukemia (AML) and diffuse large B-cell lymphoma (DLBCL).
The BioWorld Cancer index, which includes 21 representative companies developing therapies targeting various cancers, entered the new year on a high note, after posting a 22.5% gain for the year. Unfortunately, the group hit a speed bump and the index took a beating in January, dropping almost 9% as a result.
The American Society of Hematology meeting closed yesterday and served to shine the light on the latest research and progress of new therapies targeting hematological malignancies as well as other serious blood disorders. Specifically, a great deal of attention was focused on the treatment of blood cancers and, judging by the increase in value of the BioWorld Cancer index, investors and analysts alike were impressed with what they heard.
ORLANDO, Fla. – Two preclinical presentations at the 61st American Society of Hematology (ASH) annual meeting could pave the way for using hematopoietic stem cell transplants (HSCT) in patients who are currently too sick to tolerate the procedure, as well as in indications where its toxicities preclude its use.
ORLANDO, Fla. – Data from two studies from Forty Seven Inc. announced at the American Society of Hematology (ASH) annual meeting moved the market in a major way Monday as the company stock (NASDAQ:FTSV) soared 111% to close at $30.43, up $15.99.