ARTICLE | Deals
On heels of catalyst, Sierra picks GSK’s $1.9B takeout over ex-U.S. partnership
After signaling that an ex-U.S. deal was in the works, Sierra chose the M&A route, giving GSK global rights to a late-stage myelofibrosis candidate
April 13, 2022 1:14 PM UTC
Sierra, one of the few biotechs with a positive pivotal readout thus far in 2022, has opted for a quick $1.9 billion takeout by GSK rather than the ex-U.S. partnership the biotech had been seeking.
Eleven weeks after reporting that momelotinib met the primary endpoint in the Phase III MOMENTUM trial to treat myelofibrosis patients with anemia, Sierra Oncology Inc. (NASDAQ:SRRA) has accepted a buyout offer from GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) for $55 per share. That represents a 39% premium to Sierra’s close Tuesday at $39.52...