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Fly News Breaks for March 2, 2020
Mar 2, 2020 | 11:16 EDT
H.C. Wainwright analyst Swayampakula Ramakanth downgraded Forty Seven (FTSV) to Neutral from Buy with a price target of $95.50, up from $51, after the company announced that Gilead Sciences (GILD) will acquire the company for $95.50 per share in cash, or approximately $4.9B in aggregate. The analyst notes that the offer represents a 65% premium on Forty Seven's closing price of $58.00 per share on February 28, and a 414% increase on the company's stock price since November 30, 2018. According to management, the acquisition agreement has been unanimously approved by both companies' board of directors, and he expects the deal to complete during 2Q20.
News For GILD;FTSV From the Last 2 Days
Oct 25, 2021 | 08:09 EDT
Aadi Bioscience (AADI) announced the appointment of Loretta Itri, M.D., FACP, to the role of Chief Medical Officer, CMO. Most recently, Dr. Itri was Chief Medical Officer at Immunomedics, where she oversaw the development program and approval of TRODELVY, the first TROP-2 directed antibody-drug conjugate for the treatment of unresectable locally advanced or metastatic triple-negative breast and urothelial cancers. Immunomedics was subsequently acquired by Gilead Sciences (GILD).