Calithera Biosciences Inc. (NASDAQ: (CALA) stock plunged by 1.47% at last close whereas the CALA stock price gains by 1.00% in the pre-market trading session after the company has signed an important deal with Takeda Pharmaceuticals. Calithera Biosciences is a precision oncology pharmaceutical company in the trial stage that is creating tailored medicines to redefine therapy for biomarker-specific patient groups.
CALA stock’ Update
Calithera Biosciences has signed a deal with Takeda Pharmaceutical Company Limited to buy two clinical-stage medicines, both of which have shown single-agent clinical efficacy and have the most potential in biomarker-defined cancer patient groups. Calithera’s portfolio of clinical-stage targeted medicines is strengthened with the addition of sapanisertib (CB-228, previously TAK-228) and mivavotinib (CB-659, formerly TAK-659). The deal includes a $10 million upfront cash payment to Takeda and $35 million of Calithera Series A preferred shares being issued to Takeda.
Susan Molineaux, president and CEO of Calithera stated,
These clinical-stage medicines, they feel, represent a great addition to their in-house pipeline initiatives and align nicely with their current strategy focus on biomarker-driven treatment approaches. The encouraging single-agent clinical evidence, which suggests that these experimental treatments might help revolutionize therapy for many cancer patient groups with high unfulfilled needs, gives them hope. Sapanisertib, in particular, has the capability to be the first targeted therapy for NRF2-mutated squamous non-small cell lung cancer patients.
Christopher Arendt, head of Oncology Cell Therapy and Therapeutic Area Unit of Takeda commented,
Collaboration is an important aspect of our R&D strategy and at the center of our efforts to deliver new treatment options to patients. We are confident that Calithera, with its highly capable and experienced team, is the ideal partner to resume the development of sapanisertib and mivavotinib, and to maximize their potential to address underserved patient populations. We look forward to seeing how these programs advance under Calithera’s leadership.
