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JAZZ Boosts Oncology Pipeline With KRAS Inhibitor Program
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Jazz Pharmaceuticals plc (JAZZ - Free Report) announced that it has entered into a definitive agreement with U.K.-based biotech Redx Pharma to acquire global rights to the latter’s preclinical KRAS (Kirsten rat sarcoma virus) inhibitor program.
Per the agreement, Jazz will make an upfront payment of $10 million to Redx to gain all rights, patents and interest related to its proprietary KRAS inhibitor program, including its G12D selective and pan-KRAS molecules.
Further, Redx is entitled to receive up to $870 million in the form of regulatory and commercial milestone payments from Jazz. Redx is also eligible to receive tiered, mid-single-digit percentage royalties on net sales if a product is commercialized under the collaboration.
Jazz and Redx will jointly advance the investigational new drug (IND)-enabling activities for the candidates under this collaboration. However, Jazz will be solely responsible for all clinical development, regulatory and commercialization activities for these candidates.
Jazz shares have declined 18.1% in the past year compared with the industry’s decrease of 1.5%.
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Tumors characterized by KRAS mutations are commonly associated with poor prognosis and resistance to therapy. KRAS is a well-validated oncology target. KRAS inhibitors are developed to inhibit KRAS mutations and can address an area of significant unmet medical need for the treatment of cancer.
Jazz is looking to strengthen its early-stage oncology pipeline by in-licensing the KRAS inhibitor candidates.
Some KRAS inhibitors available in the market are Amgen’s Lumakras (sotorasib) and Mirati Therapeutics’, now part of Bristol Myers (BMY - Free Report) , Krazati (adagrasib).
Lumakras (sotorasib) is approved for treating advanced non-small cell lung cancer (NSCLC). The drug is also being studied in previously treated KRAS G12C-mutated colorectal cancer.
Krazati is approved for treating KRASG12C-mutated locally advanced or metastatic NSCLC.
BMY completed the acquisition of Mirati Therapeutics in January 2024.
Jazz markets four oncology drugs, namely Defitelio, Vyxeos, Rylaze and Zepzelca. These drugs generated more than a quarter of the company’s total product revenues in the first nine months of 2023.
Jazz’s oncology product sales were $741.5 million in the first nine months of 2023, reflecting an increase of almost 14.1% on a year-over-year basis.
In the past 60 days, estimates for ImmunoGen’s 2024 earnings per share have improved from 36 cents to 37 cents. In the past year, shares of IMGN have skyrocketed 601.9%.
Earnings of ImmunoGen beat estimates in each of the trailing last four quarters. IMGN delivered a four-quarter average earnings surprise of 136.05%.
In the past 60 days, estimates for Puma Biotechnology’s 2024 earnings per share have improved from 64 cents to 69 cents. In the past year, shares of PBYI have risen 10.3%.
Earnings of Puma Biotechnology beat estimates in three of the last four quarters while missing the same on the remaining occasion. PBYI delivered a four-quarter average earnings surprise of 76.55%.
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JAZZ Boosts Oncology Pipeline With KRAS Inhibitor Program
Jazz Pharmaceuticals plc (JAZZ - Free Report) announced that it has entered into a definitive agreement with U.K.-based biotech Redx Pharma to acquire global rights to the latter’s preclinical KRAS (Kirsten rat sarcoma virus) inhibitor program.
Per the agreement, Jazz will make an upfront payment of $10 million to Redx to gain all rights, patents and interest related to its proprietary KRAS inhibitor program, including its G12D selective and pan-KRAS molecules.
Further, Redx is entitled to receive up to $870 million in the form of regulatory and commercial milestone payments from Jazz. Redx is also eligible to receive tiered, mid-single-digit percentage royalties on net sales if a product is commercialized under the collaboration.
Jazz and Redx will jointly advance the investigational new drug (IND)-enabling activities for the candidates under this collaboration. However, Jazz will be solely responsible for all clinical development, regulatory and commercialization activities for these candidates.
Jazz shares have declined 18.1% in the past year compared with the industry’s decrease of 1.5%.
Tumors characterized by KRAS mutations are commonly associated with poor prognosis and resistance to therapy. KRAS is a well-validated oncology target. KRAS inhibitors are developed to inhibit KRAS mutations and can address an area of significant unmet medical need for the treatment of cancer.
Jazz is looking to strengthen its early-stage oncology pipeline by in-licensing the KRAS inhibitor candidates.
Some KRAS inhibitors available in the market are Amgen’s Lumakras (sotorasib) and Mirati Therapeutics’, now part of Bristol Myers (BMY - Free Report) , Krazati (adagrasib).
Lumakras (sotorasib) is approved for treating advanced non-small cell lung cancer (NSCLC). The drug is also being studied in previously treated KRAS G12C-mutated colorectal cancer.
Krazati is approved for treating KRASG12C-mutated locally advanced or metastatic NSCLC.
BMY completed the acquisition of Mirati Therapeutics in January 2024.
Jazz markets four oncology drugs, namely Defitelio, Vyxeos, Rylaze and Zepzelca. These drugs generated more than a quarter of the company’s total product revenues in the first nine months of 2023.
Jazz’s oncology product sales were $741.5 million in the first nine months of 2023, reflecting an increase of almost 14.1% on a year-over-year basis.
Zacks Rank & Stocks to Consider
Jazz currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the healthcare sector are ImmunoGen, Inc. and Puma Biotechnology, Inc. (PBYI - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for ImmunoGen’s 2024 earnings per share have improved from 36 cents to 37 cents. In the past year, shares of IMGN have skyrocketed 601.9%.
Earnings of ImmunoGen beat estimates in each of the trailing last four quarters. IMGN delivered a four-quarter average earnings surprise of 136.05%.
In the past 60 days, estimates for Puma Biotechnology’s 2024 earnings per share have improved from 64 cents to 69 cents. In the past year, shares of PBYI have risen 10.3%.
Earnings of Puma Biotechnology beat estimates in three of the last four quarters while missing the same on the remaining occasion. PBYI delivered a four-quarter average earnings surprise of 76.55%.