Oncolytics Biotech Inc ONCY

Sanofi Exploring Acquisition of KRAS Cancer Drugmaker Mirati

[Noteable]

October 05, 2023 - French pharmaceutical giant Sanofi is exploring a potential acquisition of cancer drugmaker Mirati Therapeutics Inc., according to people familiar with the matter. Mirati’s shares surged 45% — the most since 2017 — in New York trading. The shares, which had fallen 37% in the the past year through Wednesday, closed Thursday at $62.38, elevating the San Diego-based company’s market value to about $4.2 billion.

Mirati is in the process of rolling out its first product to patients, a drug called Krazati that’s used as a second-line treatment for a type of lung cancer in which the the KRAS gene has mutated. The company received accelerated approval from the Food and Drug Administration for the drug in December.

https://finance.yahoo.com/news/sanofi-explore-acquisition-cancer-drugmaker-183016461.html

[Noteable]

https://stockhouse.com/companies/bullboard/t.onc/oncolytics-biotech-ord-shs?postid=35672222

[pelaboost]

@Noteable. Thank you for your valuable info; it is useful. As you may know, Sanofi and Roche are not strangers; but most pharmas collaborate. I must confess to not having a clue where this is going; they may try this on their own. Who knows?

[Noteable]

Mirati was previously rumored to be an M&A target among Big Pharma companies. But early combination data for its KRAS inhibitor Krazati and Merck’s PD-1 inhibitor Keytruda in KRAS-mutated non-small cell lung cancer disappointed investors and called into question Krazati’s overall market potential. Then in August, Mirati finally confirmed plans to run a phase 3 trial for the Krazati-Keytruda

[Noteable]

Mirati Therapeutics targets G12C KRAS cancers while ONC's pelareorep targets G12D the predominant target in pancreatic cancer and G12V in colorectal cancer, and Mirati’s market cap is  US $4.2 Billion . Unfortunately the Cannacord Bank Robbers want the difference plus more.

[Noteable]

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

[Noteable]

October 05, 2023 - Amgen’s CodeBreaK 200 G12C KRAS inhibitor Lumakras study has “interpretation” issues—of the confirmatory study variety, at least according to an FDA advisory committee that voted against converting the accelerated approval of its oral G12C KRAS inhibitor Lumakras (sotorasib) to full approval in non-small cell lung cancer (NSCLC). In a 10-2 vote Thursday

[Noteable]

Miratis’ Krazati currently holds an edge over Amen’s Lumakras in the next phase of KRAS battle. Serious liver toxicity has forced Amgen to essentially abandon a Lumarkas combination with Keytruda, while the side effect appears manageable for Krazati.

[Noteable]

https://www.bloomberg.com/news/articles/2023-10-08/bristol-myers-to-buy-mirati-therapeutics-for-4-8-billion

[Noteable]

October 08, 2023 - Bristol-Myers Squibb will finance the $4.8 Billion acquisition transaction of Mirati Therapeutics with a combination of cash and debt.

[Noteable]

October 09, 2023 - Bristol Myers Squibb, will pay up to $5.8 billion for the California-based cancer drug developer, the two companies said Sunday. On top of the current equity value of $4.8 billion, the deal also includes a non-tradeable contingent value right term. It promises to pay Mirati shareholders $1 billion if the FDA accepts an application for the company’s pipeline drug

[Noteable]

US$1 Billion for Mirati Therapeuics P1/2 MRTX1719 , the PRMT5 inhibitor which is expected to enter phase 2 testing in the first half of 2024 - suggests that ONCY buyout valuation is north of Mirati Therapeuics acquisition price.

[Noteable]

Also suggests that canadafan is still blowing horse feathers.

[canadafan]

Like I said, I welcome other thoughts, either bellow or above. my min $1billion , max $5 billion. My " opinion":was backed with reasonable comparable evidence. name calling? Not sure your motivation. im a long term shareholder & want to see as much $$$ return as possible. Keeping things real? at present state. meaning as of right now, North of $5 billion would not be justified. add-

[Noteable]

Reality? Nah. Just more of canadafan's horse feathers.

[Lesalpes29]

Thank you Canadafan for your thoughts and speculations. It's the best we can do for now without new results from panc or other studies. I prefer that by far than repeating like a parrot the same posts week after week. Hopefully I have the parrot on ignore! GLTA 

[Noteable]

October 09, 2023 - Bristol Myers Squibb acquired KRAS inhibitor company Mirati for $5.8 billion. https://news.bms.com/news/details/2023/Bristol-Myers-Squibb-Strengthens-and-Diversifies-Oncology-Portfolio-With-Acquisition-of-Mirati-Therapeutics/default.aspx  Krazati (adagrasib) was granted accelerated U.S. Food and Drug Administration (FDA) approval for the treatment of adult patients

[Noteable]

October 31, 2023 - BMY today announced that it has priced a public offering (the “Offering”) of senior unsecured notes in a combined aggregate principal amount of $4.5 billion (collectively, the “Notes”). Bristol Myers Squibb intends to use the net proceeds of the Offering for general corporate purposes, including, but not limited to, the financing of the previously announced proposed

[Noteable]

canadafan still keeps pulling his facts out of a hat.  For instance this is just one fact check on accelerated approval vs fast track as canadafan claimed. Read this thread for the rest. Mirati is in the process of rolling out its first product to patients, a drug called Krazati that’s used as a second-line treatment for a type of lung cancer in which the

[Noteable]

Quote : On December 12, 2022, the Food and Drug Administration (FDA) granted accelerated approval to adagrasib (Krazati, Mirati Therapeutics, Inc.), a RAS GTPase family inhibitor, for adult patients with KRAS G12C¬-mutated locally advanced or metastatic non-small cell lung cancer (NSCLC), as determined by an FDA-approved test, who have received at least one prior systemic therapy. https

[Noteable]

In a Monday note to clients, William Blair analyst Matt Phipps, Ph.D. said BMS valued the deal largely based on the potential of Krazati.  In December 2022  Krazati won an FDA accelerated approval for previously treated KRAS G12C-mutant NSCLC. https://www.fiercepharma.com/pharma/bristol-myers-buys-mirati-58b-i-o-giant-branches-out-targeted-therapy-cancer

[venture009]

Inorder for ONCY to get the attention required for any share appreciation, I believe, this will only happen if FDA grants  accelerated approval.