- Gilead Sciences Inc (NASDAQ:GILD) has agreed to acquire MiroBio, a privately-held U.K.-based biotechnology company focused on restoring immune balance with agonists targeting immune inhibitory receptors.
- Gilead will pay approximately $405 million in cash.
- The acquisition will provide Gilead with MiroBio’s proprietary discovery platform and the entire portfolio of immune inhibitory receptor agonists.
- Related: Gilead Sciences’ Q2 Beats Street View On Robust Oncology, HIV Product Sales.
- MiroBio’s lead investigational antibody, MB272 has entered Phase 1 clinical trials, with the first patient dosed earlier this week.
- MiroBio’s I-ReSToRE platform has the potential to be used to develop best-in-class agonist antibodies targeting immune inhibitory receptors for inflammatory diseases.
- The company expects the transaction with MiroBio to reduce Gilead’s GAAP and non-GAAP 2022 EPS by approximately $0.30-$0.35.
- Price Action: GILD shares are up 0.42% at $62.01 during the market session on the last check Thursday.
McCormick, Dave & Buster’s Entertainment And Other Big Losers From Thursday
U.S. stocks closed higher with the Dow Jones surging around 193 points on Thursday. Here is the list of some big stocks moving lower in the previous session.
