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AstraZeneca Inks Deal to Develop RMP Inhibitors for Cancer
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AstraZeneca PLC (AZN - Free Report) announced that it will collaborate with Massachusetts-based private biotech Accent Therapeutics to discover and develop/commercialize transformative therapeutics targeting RNA-modifying proteins (RMPs) for the treatment of cancer.
This oncology collaboration focuses on targeting RMPs, a new approach to addressing the process disruptions that can cause cancer.
Per the deal, Accent will receive an upfront payment of $55 million from AstraZeneca and be also eligible to receive additional success-based payments in the form of option fees and milestones along with tiered royalties on net sales ranging from a mid-single digit to low-double digits.
According to the alliance, Accent will be responsible for preclinical and phase I development, after which AstraZeneca will lead the developmental and commercialization activities for the program. Once AstraZeneca looks into the development aspect, Accent has the option to jointly develop/commercialize the candidate in the United States. Meanwhile, if Accent opts for co-developing and co-commercializing the nominated program, profits and losses will be split between the two companies in the United States.
Shares of AstraZeneca have rallied 10.3% so far this year against the industry’s decrease of 1.1%.
We note that AstraZeneca is working to bolster its pipeline and is looking at suitable partnerships to that end.
AstraZeneca has co-development contracts with several small companies like Innate Pharma, FibroGen (FGEN - Free Report) , Moderna (MRNA - Free Report) and Daiichi Sankyo to boost its pipeline. The company also has a profit- sharing pact with pharma giant Merck (MRK - Free Report) for the development and commercialization of oncology drugs, Lynparza and Koselugo (selumetinib).
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
Image: Bigstock
AstraZeneca Inks Deal to Develop RMP Inhibitors for Cancer
AstraZeneca PLC (AZN - Free Report) announced that it will collaborate with Massachusetts-based private biotech Accent Therapeutics to discover and develop/commercialize transformative therapeutics targeting RNA-modifying proteins (RMPs) for the treatment of cancer.
This oncology collaboration focuses on targeting RMPs, a new approach to addressing the process disruptions that can cause cancer.
Per the deal, Accent will receive an upfront payment of $55 million from AstraZeneca and be also eligible to receive additional success-based payments in the form of option fees and milestones along with tiered royalties on net sales ranging from a mid-single digit to low-double digits.
According to the alliance, Accent will be responsible for preclinical and phase I development, after which AstraZeneca will lead the developmental and commercialization activities for the program. Once AstraZeneca looks into the development aspect, Accent has the option to jointly develop/commercialize the candidate in the United States. Meanwhile, if Accent opts for co-developing and co-commercializing the nominated program, profits and losses will be split between the two companies in the United States.
Shares of AstraZeneca have rallied 10.3% so far this year against the industry’s decrease of 1.1%.
We note that AstraZeneca is working to bolster its pipeline and is looking at suitable partnerships to that end.
AstraZeneca has co-development contracts with several small companies like Innate Pharma, FibroGen (FGEN - Free Report) , Moderna (MRNA - Free Report) and Daiichi Sankyo to boost its pipeline. The company also has a profit- sharing pact with pharma giant Merck (MRK - Free Report) for the development and commercialization of oncology drugs, Lynparza and Koselugo (selumetinib).
Zacks Rank
AstraZeneca currently carries a Zacks Rank #2 (Buy).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>