We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Early data show tolerability and efficacy signals, with potential across cancers and other diseases.
Eli Lilly (LLY - Free Report) announced a definitive agreement to acquire Kelonia Therapeutics in a deal valued at up to $7 billion, including $3.25 billion in upfront payment and additional payments tied to the achievement of certain clinical, regulatory and commercial milestones.
The acquisition will add Kelonia's lead program, KLN-1010, which is a potentially first-in-class lentiviral in vivo CAR-T therapy currently in phase I development for relapsed/refractory multiple myeloma.
Pending customary closing conditions, the transaction is expected to be completed in the second half of 2026.
The Rationale Behind LLY’s Impending Acquisition of Kelonia
Eli Lilly’s planned acquisition of Kelonia Therapeutics reflects a strategic push to expand its footprint in next-generation genetic medicines, particularly in oncology. At the core of the deal is Kelonia’s proprietary in vivo gene-placement system, which enables the delivery of engineered genetic material directly into T-cells within the body. This approach allows patients to generate their own CAR-T cells internally, positioning the platform as a potential shift away from the complex, individualized manufacturing processes that define current cell therapies.
Kelonia’s lead asset, KLN-1010, underscores the platform’s potential. The investigational, one-time intravenous therapy is designed to generate anti-BCMA CAR-T cells targeting multiple myeloma, a setting where demand for more accessible therapies remains high. Early clinical data presented at the 2025 American Society of Hematology meeting provided initial validation, highlighting encouraging tolerability and signs of efficacy. These results support the view that in vivo CAR-T approaches could retain the therapeutic benefits of traditional CAR-T while simplifying delivery.
Year to date, shares of Lilly have lost 14.4% compared with the industry’s 2.8% decline.
Image Source: Zacks Investment Research
The deal aims to address major challenges in CAR-T therapy, like complex manufacturing, high costs, and limited access. Kelonia’s platform could enable a simpler, scalable, off-the-shelf approach, speeding up treatment and making it available to more patients.
Beyond multiple myeloma, the acquisition offers Lilly a platform with potential applicability across a wider range of cancers and possibly other serious diseases. The combination of early clinical validation and platform flexibility suggests that Kelonia’s technology could serve as a foundation for a broader pipeline in in vivo cell therapy, aligning with Lilly’s longer-term strategy to build differentiated capabilities in oncology and genetic medicine.
LLY on an Acquisition Spree in 2026
Eli Lilly has been particularly active on the M&A front in 2026 after a subdued 2025, focusing on portfolio expansion and continuous pipeline innovation.
Last month, LLY announced that it will acquire Centessa Pharmaceuticals (CNTA - Free Report) , a clinical-stage firm focused on orexin-based therapies for sleep and neurological disorders. Centessa’s pipeline includes OX2R agonists targeting the sleep-wake cycle, led by cleminorexton, which has shown promising phase II results in narcolepsy and idiopathic hypersomnia.
Per the terms of the deal, Lilly will pay $38 per share in cash plus contingent value rights worth up to $9 per share, valuing the transaction at up to $7.8 billion. The deal is expected to be closed in the third quarter of 2026.
In February, Lilly agreed to acquire Orna Therapeutics, a biotech focused on in vivo immune cell engineering using circular RNA technology. Orna’s platform combines engineered circular RNA with lipid nanoparticles to enable the body to produce its own cell therapies, with lead candidate ORN-252 targeting autoimmune diseases via in vivo CAR-T.
The deal is valued at up to $2.4 billion, including upfront and milestone-based payments.
LLY also recently acquired Ventyx Biosciences, a clinical-stage firm developing oral therapies for inflammatory diseases. Ventyx’s pipeline includes small-molecule drugs such as NLRP3 inhibitors targeting chronic inflammation across cardiometabolic, neurodegenerative and autoimmune conditions.
Over the past 60 days, estimates for Catalyst Pharmaceuticals’ 2026 EPS have increased from $2.55 to $2.87. CPRX shares have gained 11.7% year to date.
Catalyst Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 35.19%.
Over the past 60 days, estimates for ADMA Biologics’ 2026 EPS have increased from 85 cents to 93 cents. ADMA shares have plummeted 40.4% year to date.
ADMA Biologics’ earnings beat estimates in one of the trailing three quarters, matched once and missed on the remaining occasion, with the average negative surprise being 1.79%.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Shutterstock
LLY to Buy Oncology Biotech Kelonia Therapeutics for $7 Billion
Key Takeaways
Eli Lilly (LLY - Free Report) announced a definitive agreement to acquire Kelonia Therapeutics in a deal valued at up to $7 billion, including $3.25 billion in upfront payment and additional payments tied to the achievement of certain clinical, regulatory and commercial milestones.
The acquisition will add Kelonia's lead program, KLN-1010, which is a potentially first-in-class lentiviral in vivo CAR-T therapy currently in phase I development for relapsed/refractory multiple myeloma.
Pending customary closing conditions, the transaction is expected to be completed in the second half of 2026.
The Rationale Behind LLY’s Impending Acquisition of Kelonia
Eli Lilly’s planned acquisition of Kelonia Therapeutics reflects a strategic push to expand its footprint in next-generation genetic medicines, particularly in oncology. At the core of the deal is Kelonia’s proprietary in vivo gene-placement system, which enables the delivery of engineered genetic material directly into T-cells within the body. This approach allows patients to generate their own CAR-T cells internally, positioning the platform as a potential shift away from the complex, individualized manufacturing processes that define current cell therapies.
Kelonia’s lead asset, KLN-1010, underscores the platform’s potential. The investigational, one-time intravenous therapy is designed to generate anti-BCMA CAR-T cells targeting multiple myeloma, a setting where demand for more accessible therapies remains high. Early clinical data presented at the 2025 American Society of Hematology meeting provided initial validation, highlighting encouraging tolerability and signs of efficacy. These results support the view that in vivo CAR-T approaches could retain the therapeutic benefits of traditional CAR-T while simplifying delivery.
Year to date, shares of Lilly have lost 14.4% compared with the industry’s 2.8% decline.
Image Source: Zacks Investment Research
The deal aims to address major challenges in CAR-T therapy, like complex manufacturing, high costs, and limited access. Kelonia’s platform could enable a simpler, scalable, off-the-shelf approach, speeding up treatment and making it available to more patients.
Beyond multiple myeloma, the acquisition offers Lilly a platform with potential applicability across a wider range of cancers and possibly other serious diseases. The combination of early clinical validation and platform flexibility suggests that Kelonia’s technology could serve as a foundation for a broader pipeline in in vivo cell therapy, aligning with Lilly’s longer-term strategy to build differentiated capabilities in oncology and genetic medicine.
LLY on an Acquisition Spree in 2026
Eli Lilly has been particularly active on the M&A front in 2026 after a subdued 2025, focusing on portfolio expansion and continuous pipeline innovation.
Last month, LLY announced that it will acquire Centessa Pharmaceuticals (CNTA - Free Report) , a clinical-stage firm focused on orexin-based therapies for sleep and neurological disorders. Centessa’s pipeline includes OX2R agonists targeting the sleep-wake cycle, led by cleminorexton, which has shown promising phase II results in narcolepsy and idiopathic hypersomnia.
Per the terms of the deal, Lilly will pay $38 per share in cash plus contingent value rights worth up to $9 per share, valuing the transaction at up to $7.8 billion. The deal is expected to be closed in the third quarter of 2026.
In February, Lilly agreed to acquire Orna Therapeutics, a biotech focused on in vivo immune cell engineering using circular RNA technology. Orna’s platform combines engineered circular RNA with lipid nanoparticles to enable the body to produce its own cell therapies, with lead candidate ORN-252 targeting autoimmune diseases via in vivo CAR-T.
The deal is valued at up to $2.4 billion, including upfront and milestone-based payments.
LLY also recently acquired Ventyx Biosciences, a clinical-stage firm developing oral therapies for inflammatory diseases. Ventyx’s pipeline includes small-molecule drugs such as NLRP3 inhibitors targeting chronic inflammation across cardiometabolic, neurodegenerative and autoimmune conditions.
Eli Lilly and Company Price and Consensus
Eli Lilly and Company price-consensus-chart | Eli Lilly and Company Quote
LLY’s Zacks Rank & Stocks to Consider
Eli Lilly currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Catalyst Pharmaceuticals (CPRX - Free Report) and ADMA Biologics (ADMA - Free Report) , sporting a Zacks Rank #1 (Strong Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Catalyst Pharmaceuticals’ 2026 EPS have increased from $2.55 to $2.87. CPRX shares have gained 11.7% year to date.
Catalyst Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 35.19%.
Over the past 60 days, estimates for ADMA Biologics’ 2026 EPS have increased from 85 cents to 93 cents. ADMA shares have plummeted 40.4% year to date.
ADMA Biologics’ earnings beat estimates in one of the trailing three quarters, matched once and missed on the remaining occasion, with the average negative surprise being 1.79%.