Jan. 10 Company Quick Takes: Nektar gains on expanded BMS deal; plus Nurix-Sanofi, Amunix-Roche, Sorrento, Alderaan, Keytruda, Akari, Moderna
BMS, Nektar adding more combo trials to bempeg/Opdivo deal
Bristol-Myers Squibb Co. (NYSE:BMY) and Nektar Therapeutics (NASDAQ:NKTR) will start two new registrational trials under an expanded partnership in which they are developing Nektar's bempegaldesleukin (NKTR-214) in combination with BMS's PD-1 inhibitor Opdivo nivolumab. The partners will conduct pivotal studies of the doublet to treat adjuvant melanoma and muscle-invasive bladder cancer, as well as a Phase I/II trial of the pair plus axitinib as first-line therapy for renal cell carcinoma (RCC). Under the companies' prior deal, they are studying the bempeg/Opdivo combination in registrational studies to treat melanoma, metastatic bladder cancer and RCC in first-line settings. Nektar rose $5.33 (25%) to $26.92 Friday.
Nurix, Sanofi in protein degradation deal
Nurix Therapeutics Inc. and Sanofi (Euronext:SAN; NASDAQ:SNY) partnered to develop protein degradation therapies for three targets and multiple diseases. Sanofi, which has an option to license compounds for two additional targets, has exclusive rights to the candidates and is responsible for clinical development and commercialization. Nurix, which has a co-development and co-promotion option to up to two products in the U.S., will receive an upfront payment of $55 million and is eligible for $2.5 billion in milestones, plus royalties (see “Nurix: Two Sides of Protein Degradation”)...