June 22 Quick Takes: Invitae acquiring ArcherDX; plus lymphoma approval for Karyopharm, Merck, Nabriva, Myovant, Assembly-AbbVie, Genentech and more

ArcherDX picks deal with Invitae over IPO
Genetic testing company Invitae (NYSE:NVTA) is acquiring ArcherDX Inc., adding a cancer diagnostics platform to its precision oncology business. ArcherDX’s shareholders will receive $325 million in cash plus 30 million shares of Invitae stock; based on Friday’s close of $18.71, the equity component is worth $561.3 million. The shareholders are also eligible to receive another 27 million shares tied to milestones, bringing the deal’s potential value to $1.4 billion. This month, Archer had filed to go public on NASDAQ. Invitae gained 45% to $27.05 on Monday.

Karyopharm’s Xpovio gets DLBCL approval
FDA approved Xpovio selinexor from Karyopharm Therapeutics Inc. (NASDAQ:KPTI) to treat relapsed or refractory diffuse large B cell lymphoma. The company said the oral XPO1 inhibitor, which gained accelerated approval from FDA in 2019 to treat relapsed or refractory multiple myeloma, is the first drug the agency has indicated for both MM and DLBCL (see “FDA Approves Karyopharm’s Multiple Myeloma Drug”). ...