Gilead Sciences, Inc.’s (GILD - Free Report) subsidiary, Kite, entered into a two-year research collaboration and license agreement with HiFiBiO Therapeutics to develop antibodies and novel targets against acute myeloid leukemia (AML).
Per the deal, HiFiBiO Therapeutics will develop the novel AML targets and anti-AML specific antibodies leveraging its proprietary single-cell platform, which will be used by Kite in its cell therapies.
HiFiBiO will receive an undisclosed upfront payment and be eligible for additional payments based on the completion of some research activities on the candidates. Meanwhile, Kite will have an exclusive option to opt in on any targets discovered through the collaboration, for which HiFiBiO will receive an additional payment.
Shares of Gilead have increased 1.4% year to date against he industry’s decline of 1.6%.
We remind investors that Gilead acquired Kite Pharma in 2017 to foray into the emerging field of cell therapy. Kite is a pioneer in cell therapy, having developed engineered cell therapies that express either a chimeric antigen receptor (CAR) or an engineered T-cell receptor (TCR), depending on the type of cancer.
Gilead has been actively entering into deals with various companies to develop its oncology portfolio. In March 2020, the company acquired immuno-oncology company, Forty Seven, Inc., and added magrolimab to its portfolio. Magrolimab is a monoclonal antibody in clinical development for the treatment of several cancers, including myelodysplastic syndrome (MDS), AML and diffuse large B-cell lymphoma (DLBCL). The company also signed a deal withJounce Therapeutics, Inc. (JNCE - Free Report) to exclusively license the latter’snovel immunotherapy candidate, JTX-1811.JTX-1811,an anti-CCR8 monoclonal antibody, can selectively deplete immunosuppressive tumor-infiltrating T regulatory (TITR) cells.
Zacks Rank & Stocks to Consider
Gilead currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the healthcare sector include Emergent Biosolutions Inc. (EBS - Free Report) and Horizon Therapeutics Public Limited Company (HZNP - Free Report) , both sporting a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.
Emergent’s earnings estimates have increased from $3.45 to $6.32 for 2020 and from $4.31 to $7.01 for 2021 over the past 60 days. Shares of the company have increased 88.6% year to date.
Horizon Therapeutics’ earnings estimates have increased from $1.78 to $2.86 for 2020 and from $2.74 to $4.29 for 2021 over the past 60 days. Shares of the company have increased 170.6% year to date.
Gilead Sciences, Inc. Price
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