Maybe no one’s buying Uniqure after all
Uniqure, among the most talked-about potential buyout targets in biotech, just did something companies don’t do when they’re for sale.
The Dutch biotech sold the rights to its lead asset, a gene therapy for hemophilia, in exchange for $450 million in cash and the promise of $1.6 billion more provided it meets a series of goals. The news sent Uniqure’s shares down about 8%.
Not only does the deal deflate any near-term hopes for a Uniqure acquisition; it also casts some doubt on the market for gene therapy companies. If the reports of Uniqure shopping itself around were correct, and all it came up with was a $450 million partnership, that could be a sign that there's a disconnect between investor expectations and pharmaceutical reality.
The Dutch biotech sold the rights to its lead asset, a gene therapy for hemophilia, in exchange for $450 million in cash and the promise of $1.6 billion more provided it meets a series of goals. The news sent Uniqure’s shares down about 8%.
Not only does the deal deflate any near-term hopes for a Uniqure acquisition; it also casts some doubt on the market for gene therapy companies. If the reports of Uniqure shopping itself around were correct, and all it came up with was a $450 million partnership, that could be a sign that there's a disconnect between investor expectations and pharmaceutical reality.
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