|Over a month ago|
Gilead may be entertaining acquisition of Arcus, says Cantor Fitzgerald » 07:3004/1604/16/20
RCUS, GILD, FTSV
Cantor Fitzgerald analyst…
Cantor Fitzgerald analyst Alethia Young says Bloomberg's headline that Gilead (GILD) is in talks to buy a stake in Arcus Biosciences (RCUS) "doesn't strike us as surprising," telling investors in a research note that there are many relevant proof-of-concept readouts for Arcus in both its adenosine antagonist and its anti-TIGIT and that Gilead is likely acquiring many more assets beyond Forty Seven (FTSV) in oncology. The analyst adds that Gilead is likely entertaining an acquisition of Arcus, and that potentially others could be serious about a deal. Her analysis suggests takeout valuations of $33-$45 for Arcus.
Two new option listings and one option delisting on April 8th » 08:3004/0804/08/20
FBK, GFL, FTSV
New option listings for…
New option listings for April 8th include FB Financial (FBK) and GFL Environmental Inc (GFL). Option delistings effective April 8th include Forty Seven Inc (FTSV).
|Over a quarter ago|
Forty Seven reports Q4 EPS (61c), consensus (71c) » 16:0203/2003/20/20
"In 2019, Forty…
"In 2019, Forty Seven transformed into a multi-asset, late-stage development company with clear paths to registration in two distinct, underserved patient populations. In parallel, we entered into several new partnerships designed to accelerate the development of magrolimab and FSI-174, and allow us to evaluate both compounds more rapidly across a range of indications and combination paradigms," said Mark McCamish, M.D., Ph.D., President and CEO of Forty Seven. "Following the recently announced acquisition by Gilead, and with the benefit of their resources and capabilities, we are even better positioned to build on this momentum and deliver on our foundational vision of developing novel immunotherapies that help patients defeat their cancers." Dr. McCamish continued, "Like so many others, we are closely monitoring COVID-19, and have recently instituted a number of proactive measures to mitigate the spread of the virus and protect the safety, health and well-being of the patients, families and healthcare professionals involved in our clinical development programs, as well as our employees. While we are working diligently to limit the impact of COVID-19 on our ongoing clinical trials, we, together with our contract research organization, decided to delay the initiation of our Phase 1 trial of FSI-174 in healthy volunteers in order to support physicians and hospitals in devoting their resources to treating COVID-19 patients, and avoid exposing healthy volunteers to unnecessary risk. We will continue to evaluate the pandemic and expect to re-visit the timing of potential trial initiation in the second quarter."
Trillium could be 'compelling' target after Forty Seven deal, Dealreporter says » 09:4203/1103/11/20
TRIL, FTSV, GILD
Noting that the proxy…
Noting that the proxy filing made yesterday by Forty Seven (FTSV) suggests that Gilead (GILD) was competing with a mid-cap biotech for the company, Dealreporter said in a flash note to its subscribers that the "competitive counterbid...would seem to strengthen the case for Trillium Therapeutics (TRIL)....as a compelling takeout target," according to contacts. In early trading, Trillium shares are up about 4% to $5.66.
Forty Seven, Rocket Pharmaceuticals announces research collaboration » 08:1303/1103/11/20
Forty Seven (FTSV) and…
Forty Seven (FTSV) and Rocket Pharmaceuticals (RCKT) announced that they have entered into a research collaboration to pursue clinical proof-of-concept for Forty Seven's novel antibody-based conditioning regimen, FSI-174 plus magrolimab, with Rocket's ex vivo lentiviral vector hematopoietic stem cell gene therapy, RP-L102. The initial collaboration will evaluate this treatment regimen in Fanconi Anemia, a genetic disease that affects patients' capacity to produce blood cells and is associated with an increased risk of leukemia and other neoplasms. RP-L102, Rocket's gene therapy approach for FA, involves treatment with patients' own gene-corrected blood forming stem cells. Gene therapies for monogenic blood disorders have broad potential. One concern associated with these treatments is the toxicity of pre-therapy conditioning regimens that utilize cytotoxic chemotherapy and/or radiation to destroy existing HSCs and facilitate engraftment of gene-corrected HSCs. Forty Seven's all-antibody based conditioning regimen is designed to address the limitations of current pre-treatment conditioning therapies. These regimens are often associated with serious side effects, including severe infection, cognitive impairment, infertility, endocrine dysfunction, secondary malignancies and organ damage. These toxicities are especially difficult for pediatric patients and are particularly severe for patients with FA, who are more sensitive to the DNA-damaging effects of traditional conditioning agents. Preliminary data demonstrate that RP-L102 may confer efficacy without pre-treatment conditioning. The combination of RP-L102 with Forty Seven's all-antibody conditioning regimen may provide patients an alternate treatment option in situations where conditioning may be advantageous. Under the terms of the agreement, Rocket will provide its ex vivo LVV HSC gene therapy platform and Forty Seven will contribute its innovative antibody-based conditioning regimen for the collaboration.
Gilead price target raised to $87 from $81 at Wells Fargo » 08:4903/0403/04/20
Wells Fargo analyst Jim…
Wells Fargo analyst Jim Birchenough raised the firm's price target on Gilead (GILD) to $87 from $81 and keeps an Overweight rating on the shares following recent outperformance and on assessment of potential remdesivir opportunity in addressing current coronavirus outbreak. Overall, the analyst believes incremental value can be justified, and see further upside potential on broader pipeline progress, new opportunity with Forty Seven (FTSV) acquisition and potential for additional deals.
Forty Seven downgraded to Neutral from Buy at Mizuho » 05:0903/0403/04/20
Mizuho analyst Mara…
Mizuho analyst Mara Goldstein downgraded Forty Seven (FTSV) to Neutral from Buy with a price target of $95.50, up from $53. As the company's bidding process was said to be competitive, a competing takeover to challenge the one from Gilead Sciences (GILD) is unlikely, Goldstein tells investors in a research note. The analyst downgraded Forty Seven to reflect the proposed takeout price.
Forty Seven downgraded to Neutral from Buy at Guggenheim » 10:1803/0303/03/20
Guggenheim analyst Etzer…
Guggenheim analyst Etzer Darout downgraded Forty Seven (FTSV) to Neutral from Buy following the company's announcement of an agreement to be acquired by Gilead (GILD).
Forty Seven downgraded to Hold from Buy at Canaccord » 08:4803/0303/03/20
Canaccord analyst Arlinda…
Canaccord analyst Arlinda Lee downgraded Forty Seven to Hold from Buy following its announced acquisition by Gilead for $95.50 per share in cash.
Forty Seven downgraded to Hold from Buy at SunTrust » 08:0603/0303/03/20
SunTrust analyst Asthika…
SunTrust analyst Asthika Goonewardene downgraded Forty Seven (FTSV) to Hold from Buy with a price target of $95.50, up from $55, following the company's confirmed acquisition by Gilead (GILD) at that price. The analyst believes that the deal is a good fit for Gilead and has already gone through a competitive bidding process, making it unlikely to be countered at this point.