Oncolytics Biotech Inc T.ONC

BMS buys stock in TCR-based cell therapies & bispecifics co.

[Noteable]

July 24, 2023 - “Immatics”, a Phase 1 biopharmaceutical company, in the discovery and development of T cell-redirecting cancer immunotherapies, announced that Bristol Myers Squibb (NYSE: BMY) has made a $35 million equity investment in the company

Bristol Myers Squibb purchased 2,419,818 ordinary shares in a private placement transaction at a subscription price per share of US$14.46

https://www.globenewswire.com/news-release/2023/07/24/2709406/0/en/Immatics-Announces-35-Million-Equity-Investment-from-Bristol-Myers-Squibb.html

https://immatics.com/our-pipeline/

[Noteable]

Phase 1 company "Immatics" has 76 Million shares outstanding and a market cap of US$1 Billion. 

[Noteable]

Matt Coffey once proposed Big Pharma taking an equty position in ONCY. Has it happened? Not yet.

[Noteable]

July 27, 203 -  BMS looks to new product portfolio as revenues slide due to Revlimid losses Bristol Myers Squibb cited lower Revlimid sales as a driver of its falling revenue in the US in the second quarter of 2023, and like other Big Pharma companies is looking to recover from a looming patent cliff that has begun to take affect in 2023. Big Pharma will be also looking to M&A deals

[Noteable]

Like BMS Big Pharma's M&A targets are increasingly moving towards biological assets, specifically in cancer and immunology, which are granted 13 years of FDA market exclusivity as compared to 9 years exclusivity for small molecules.

[Noteable]

876K shares of ONCY traded in one trade at approximately 10:45 am this morning. 

[canadafan]

A 876kk trade obviously a prearranged institutional buy . no other explanation