Novartis to pay up to $1.75 billion for U.S. cancer-focused biotech
By Steve Goldstein
Pharmaceutical giant Novartis AG on Thursday said it will pay up to $1.75 billion for a U.S. biotech focused on cancer.
Novartis said it's paying $1 billion upfront and up to $750 million more in milestone payments for Mariana Oncology, a Watertown, Mass.-based preclinical-stage biotechnology company focused on cancers with high unmet patient needs.
Mariana Oncology is working on developing what's called radioligand therapies, or RLT, and is investigating a candidate for use in small-cell lung cancer.
Novartis has two approved RLTs for certain patients with metastatic castration-resistant prostate cancer and certain types of gastroenteropancreatic neuroendocrine tumors.
Novartis shares in Swiss trade (CH:NOVN) (NVS) were steady and have gained 5% this year.
-Steve Goldstein
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
05-02-24 0718ET
Copyright (c) 2024 Dow Jones & Company, Inc.-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Q4 Stock Market Outlook: Where We See Opportunities for Investors
-
Markets Brief: Non-Farm Payrolls in the Spotlight Again
-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
10 Top-Performing Dividend Stocks of Q3 2024
-
33 Undervalued Stocks
-
Communication Services: Cable’s Broadband Dominance Isn’t as Strong as It Once Was
-
Technology: Strength Continues, With Software Presenting the Best Buying Opportunities
-
Best- and Worst-Performing Stocks of Q3 2024
-
Top Stocks to Own From the Best Fund Managers
-
2 Cheap Stocks Top Managers Have Been Buying
-
The 10 Best Companies to Invest in Now