Oncolytics Biotech Inc ONCY

Primary Symbol: T.ONC

Healthcare Biotechnology

Oncolytics Biotech Inc. is a biotechnology company. The Company is focused on developing pelareorep, an intravenously delivered immunotherapeutic agent that activates the innate and adaptive immune systems and weakens tumor defense mechanisms. This compound induces anti-cancer immune responses and promotes an inflamed tumor phenotype turning cold tumors hot through innate and adaptive immune responses to treat a variety of cancers. This improves the ability of the immune system to fight cancer, making tumors more susceptible to a broad range of oncology treatments. The Company’s primary focus is to advance its programs in hormone receptor-positive / human epidermal growth factor 2- negative (HR+/HER2-) metastatic breast cancer and advanced/metastatic pancreatic ductal adenocarcinoma to phase 3 licensure-enabling studies. In addition, it is exploring opportunities for registrational programs in other gastrointestinal cancers through its GOBLET platform study.

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Oncolytics Biotech Inc > Sanofi Exploring Acquisition of KRAS Cancer Drugmaker Mirati

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Comment by Noteableon Oct 07, 2023 11:06am

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Post# 35674529

RE:RE:RE:RE:Sanofi Exploring Acquisition of KRAS Cancer Drugmaker Mirati

October 06, 2023 - This is not new territory for Mirati. In October 2021, Merck had expressed interest in acquiring Mirati, according to people briefed on the matter. In November 2022, Mirati was attracting “fresh takeover interest” from large pharma companies, also reported by Bloomberg. At the time, the California-based biotech was still ushering its KRAS inhibitor adagrasib through the clinical space.

A month later, in December 2022, the molecule won the FDA’s accelerated approval for the treatment of locally advanced or metastatic non-small cell lung cancer with the G12C mutation in the KRAS gene. Adagrasib is currently being sold under the brand name Krazati and is Mirati’s only approved product.

Despite the regulatory win, however, Krazati still trails behind Amgen’s first-to-market G12C KRAS inhibitor Lumakras (sotorasib). In its second-quarter 2023 earnings report, Mirati reported net revenue of $13.4 million for Krazati. During the same period, Lumakras made $77 million.

https://www.biospace.com/article/sanofi-mulls-mirati-therapeutics-buy-as-kras-battle-heats-up-bloomberg-/

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