Blueprint completes a round trip with Roche deal
Blueprint Medicines began 2020 with a surprisingly quick approval for its first cancer drug, followed it with some disappointing data, and has now signed a sizable deal with a major pharma company. That means the company’s stock, which fell as much as 42%, is now right back where it started.
As STAT’s Adam Feuerstein reports, Blueprint inked a deal with Roche that will give the company $775 million up front and as much as $900 million more down the road. In exchange, Roche gets some commercial rights to pralsetinib, a targeted cancer drug that could win FDA approval in the coming months.
The announcement brought Blueprint’s share price back to about $80 yesterday, reversing the losses from what has been a turbulent year for the Cambridge, Mass.-based company.
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As STAT’s Adam Feuerstein reports, Blueprint inked a deal with Roche that will give the company $775 million up front and as much as $900 million more down the road. In exchange, Roche gets some commercial rights to pralsetinib, a targeted cancer drug that could win FDA approval in the coming months.
The announcement brought Blueprint’s share price back to about $80 yesterday, reversing the losses from what has been a turbulent year for the Cambridge, Mass.-based company.
Read more
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