![]() Food and Drug Administration, and the FDA’s target action date is November 29, with European approval set for next year. The Axi-cel treatment is currently under review by the U.S. The company expects axi-cel to be approved as a treatment to fight aggressive non-Hodgkin lymphoma. Kite’s biggest, most advanced offering is a CAR T therapy called axicabtagene ciloleucel, or axi-cel. We are greatly impressed with the Kite team and what they have accomplished, and share their belief that cell therapy will be the cornerstone of treating cancer.” ![]() “The field of cell therapy has advanced very quickly, to the point where the science and technology have opened a clear path toward a potential cure for patients. “The acquisition of Kite establishes Gilead as a leader in cellular therapy and provides a foundation from which to drive continued innovation for people with advanced cancers,” Gilead President and CEO John F. However, the Kite acquisition won’t become neutral in terms of earnings until the third year of the deal, according to Gilead. Gilead made it clear in its official announcement that the Kite purchase is designed to diversify its drug offerings. Shares of Kite reached a new all-time high on Monday, and the company’s shares have already traded hands more than eight times its average volume. Kite and Gilead’s board of directors both unanimously approved the deal, which will reportedly close in the fourth quarter. Gilead’s $180 a share purchase marks a 29% premium from Kite’s Friday close. Gilead is set to pay roughly $11.9 billion in an all-cash deal to acquire Kite and its innovative cancer drug, which aims to make the patient's own immune cells fight-off cancerous tumors. Confirmed: Gilead to acquire Kite Pharma for 11.9bn. Kite Pharma, and Dendreon Pharmaceuticals. See insights on Kite Pharma including office locations, competitors, revenue, financials. With both stocks still in the red for the year, this could make a decent entry point if you’re looking to play the highly speculative sector.Īs of this writing, John Kilhefner did not hold a position in any of the aforementioned securities.Shares of cancer treatment drug maker Kite Pharma KITE soared on Monday morning after Gilead Sciences GILD officially announced it would purchase the company for a substantial premium. Kite Pharma 22.17 m in annual revenue in FY 2016. And Barclays today raised its price target on KITE to $65, maintaining an “equal weight” rating. KITE stock, along with JUNO, look increasingly well poised as biotech stocks to watch in the lymphoma therapeutics market. The market for lymphoma therapeutics, chock-full of treatment opportunities, is expected to grow at a compounded annual growth rate of 3.84% until 2020, with 62% of sales captured in North America. These results bode well for placing Kite Pharma’s treatment among the best of the best. As for patients with TFL and PMBCL, 91% improved and 73% went into complete remission. However, 76% of the 51 patients treated with KTE-C19 improved while showing a remission rate of 47%. Kite’s phase-2 trial treated 51 patients with a common form of non-Hodgkin lymphoma and 11 patients with transformed follicular lymphoma and primary mediastinal large B-cell lymphoma. 10 Stocks That Should Be in Your Portfolio Right Nowīut KITE stock holders aren’t the only ones dancing in the streets - Juno Therapeutics Inc (NASDAQ: JUNO) is up 12% on today’s news, as Juno offers a similar lymphoma treatment, which came under pressure amid the deaths of two patients in the first half of 2016.Kite, in conjunction with the Leukemia and Lymphoma Society Inc., is championing its lead product, KTE-C19, for regulatory approval in the treatment of patients suffering from diffuse large B-cell lymphoma and other forms of the lymphoid cancer. “We view the 3-month CR rate across the entire ZUMA-1 cohort as favorable and suggestive of a durable response … The ZUMA-1 study pre-defines duration of response as inclusive of all three pt cohorts, and therefore we think the trial should observe a >6 months duration of response which view as a key marker for regulatory approval” The reason for the move is positive top-line data in its most recent clinical trial for its lymphoma treatment, showing roughly two-thirds of patients responded positively to Kite’s treatment, with 40% going into “complete remission.”Īccording to Jefferies analyst Biren Amin: ![]() Today, Kite is trading just shy of $60 a share, trimming its year-to-date loss to just 2.9%. Kite Pharma Inc (NASDAQ: KITE) closed Monday at $54.98, marking an 11% decline for the year for KITE stock owners. ![]()
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