The roller Coaster IMU ride - ENJOY IT, page-7

Quite right Value+. For example t/o deal this week:-

Gilead CEO Daniel O’Day has nabbed an­oth­er im­muno-on­col­o­gy part­ner in his quest to re­make the biotech’s can­cer di­vi­sion, ink­ing an up-to $1.5 bil­lion deal with a com­pa­ny found­ed five years ago by one the field’s ear­ly ar­chi­tects.
Gilead will pay South San Fran­cis­co-based Pi­o­nyr $275 mil­lion for 49.9% own­er­ship in the com­pa­ny, which is fo­cused on tar­get­ing the in­nate im­mune cells that help tu­mors hide.
Gilead has an op­tion to ac­quire the rest of the com­pa­ny for an­oth­er $315 mil­lion. Be­yond that, there’s near­ly $1 bil­lion in de­vel­op­ment and reg­u­la­to­ry mile­stones.
Pi­o­nyr is ear­li­er than the rest of Gilead’s big-name part­ner­ships to-date. Their two lead drugs have yet to en­ter the clin­ic.
Gilead will on­ly have Phase Ib da­ta to work off of when they de­cide whether to ex­er­cise their op­tion. Still, both can­di­dates are slat­ed for IND fil­ings lat­er this year. Its a foundational opportunity to improve the footprint og immunotherapy in general and to take checkpoints (PD-1/CTLA) further.