© Reuters. FILE PHOTO: The logo of pharmaceutical company Gilead Sciences Inc is seen in Oceanside, California, U.S., April 29, 2020. REUTERS/Mike Blake
(Reuters) – Gilead Sciences (NASDAQ 🙂) will acquire all remaining rights for an experimental cancer therapy, GS-1811, from Jounce Therapeutics (NASDAQ 🙂) for 67 million dollars, the medication manufacturer announced on Tuesday.
L’accord de license modifiera reinforcera les ressources de tressouri de Jounce dans un marché difficile pour les sociétés de biotechnologie.
Shares of Jounce more than doubled to reach $1.68, while shares of Gilead dropped slightly after market trading.
Gilead will now be the sole responsible for further development and commercialization of GS-1811 on a global scale. The amended agreement should reduce its earnings per share in 2022 by 4 cents on a GAAP and non-GAAP basis.
GS-1811 is currently being evaluated in a precocious trial for patients with solid tumors and acts to selectively deplete T lymphocytes that suppress the immune response of the organism and allow tumors to the developer.
In 2020, the drug manufacturers agreed to collaborate in the development of GS-1811, when Gilead made an initial payment of 85 million dollars to Jounce. According to the initial conditions, Jounce was eligible to receive up to 685 million dollars in payments from Gilead, of which he received 40 million dollars from the present day.
With the amendment, Jounce will not receive any remaining stage payments nor any royalties based on sales.