Gilead Approves Decision
In a significant move, Gilead Sciences has announced the acquisition of privately-held cancer specialists Interius BioTherapeutics. The deal, worth hundreds of millions of dollars, is set to advance Gilead's oncology subsidiary, Kite, by providing a boost to its pipeline of in vivo CAR-T cell therapies.
The acquisition comes as Gilead reported a modest 2% increase in revenue in the second quarter. The deal is expected to result in a $0.23 to $0.25 dilution per share for Gilead, according to the company's estimates.
Cindy Perettie, EVP of Gilead's oncology subsidiary Kite, expressed her belief that the acquisition will propel the development of best-in-class in vivo therapies.
Interius BioTherapeutics, the company being acquired, is focused on in vivo CAR-T cell therapies. Its pipeline includes a Phase 1 clinical trial for its lead development candidate, INT2104. Additionally, the company has two other projects in the discovery and preclinical phases, respectively.
The founders of Interius BioTherapeutics are not publicly disclosed at this time.
Prior to the acquisition, Gilead had guided for EPS of $7.95 to $8.25 for the year. Assuming Gilead earns $8.00 per share this year, the P/E ratio stands at 15.
This strategic move by Gilead underscores the company's commitment to expanding its oncology portfolio and delivering innovative treatments to patients battling cancer. Further details about the acquisition are expected to be released in due course.
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