Home Therapeutics Oncologics StockWatch: Sierra Oncology Surges on $1.9B GSK Acquisition

gsk_usa16_pa_randd_arthur_groy_0050_v1_rgb_624x416 — GlaxoSmithKline (GSK) signaled its intent to expand its oncology pipeline with its planned $1.9 billion acquisition of Sierra Oncology. Sierra’s investors in turn showed their approval of the deal by sending the company’s shares up 39% n Wednesday. [GlaxoSmithKline]

StockWatch: Sierra Oncology Surges on $1.9B GSK Acquisition

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By Alex Philippidis

April 14, 2022

GlaxoSmithKline (GSK) signaled its intent to expand its oncology pipeline with its planned $1.9 billion acquisition of Sierra Oncology. Sierra’s investors in turn showed their approval of the deal by sending the company’s shares up 39% n Wednesday. [GlaxoSmithKline]

GSK seized the opportunity to buy Sierra three months after it reported positive topline data for its lead candidate momelotinib from the Phase III MOMENTUM trial. Sierra is expected to file a New Drug Application for momelotinib this year. GSK’s deal caps a 14-year period that saw momelotinib change hands from original developer Cytopia to YM Biosciences in 2009, to Gilead Sciences three years later, then to Sierra in 2018 . . .