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Novo Nordisk has successfully completed the acquisition of Dicerna Pharmaceuticals (NASDAQ: DRNA) on 27 December 2021. After a cash tender offer, Novo Nordisk acquired approximately 64.9 million shares of Dicerna, representing 82.6% of its outstanding shares, at a price of USD 38.25 per share. Following the merger, Dicerna is now a wholly owned subsidiary of Novo Nordisk, and its common stock will no longer be traded on Nasdaq.
Dicerna Pharmaceuticals, Inc. (Nasdaq: DRNA) announced the expiration of the Hart-Scott-Rodino Antitrust Improvements Act waiting period concerning Novo Nordisk's cash tender offer to acquire Dicerna for $38.25 per share. This marks a critical step towards the completion of the tender offer set to end at 5:00 PM, Eastern Time, on December 27, 2021. The acquisition is contingent upon various conditions, including a minimum share tender exceeding 50% of Dicerna's outstanding shares.
Dicerna Pharmaceuticals (NASDAQ: DRNA) announced an acquisition by Novo Nordisk at $38.25 per share, totaling $3.3 billion, with an 80% premium over its previous closing price. The deal, approved unanimously by both boards, aims to enhance RNA interference (RNAi) therapeutics development using Dicerna’s GalXC™ platform. Dicerna and Novo Nordisk have collaborated since 2019, focusing on RNAi therapies targeting liver diseases and chronic conditions. The transaction is subject to regulatory approval and is expected to close in Q4 2021.
Dicerna Pharmaceuticals (NASDAQ: DRNA) announced that Eli Lilly has declared proof of principle for two targets in their collaboration, aiming to develop novel therapies for neurodegeneration and pain. This milestone will trigger multimillion-dollar payments to Dicerna, expected in Q4 2021. Currently, seven candidates are in development under this partnership, which focuses on unmet needs in therapeutics targeting various tissues. Dicerna now has 18 programs in development, showcasing the potential of its GalXC platform.
Dicerna Pharmaceuticals (Nasdaq: DRNA) reported positive results from its Phase 1 trial of belcesiran, an investigational therapy for alpha-1 antitrypsin deficiency-associated liver disease (AATLD). The trial confirmed safety and tolerability, showing robust, dose-dependent reductions in serum AAT, with a peak individual reduction of 91%. The ESTRELLA Phase 2 study is ongoing, with plans for global site expansions and broadening inclusion criteria. Results underscore the potential therapeutic promise of belcesiran for AATLD and highlight the critical need for effective treatments.
Dicerna Pharmaceuticals (DRNA) reported positive top-line data from the pivotal PHYOX2 clinical trial of nedosiran for treating primary hyperoxaluria, achieving significant urinary oxalate reduction. The company initiated a Phase 1 trial for DCR-AUD targeting alcohol use disorder, with clinical advancements expected to continue into 2022. Financially, Dicerna posted $63 million in Q3 2021 revenue, up from $48.9 million year-over-year. Cash reserves increased to $646.6 million, ensuring operational funding through 2025, despite a net loss of $17.1 million.
Dicerna Pharmaceuticals (Nasdaq: DRNA) announced successful results from the PHYOX™2 trial of nedosiran, demonstrating a statistically significant reduction in urinary oxalate excretion in patients with primary hyperoxaluria type 1 (PH1). The trial showed that over 80% of patients achieved normal or near-normal urinary oxalate levels. Additionally, real-world data highlighted delayed diagnoses and high healthcare costs exceeding $200,000 in the first year post-dialysis. The company emphasizes the urgent need for effective treatment options for PH1.
Dicerna Pharmaceuticals, Inc. (NASDAQ: DRNA) announced it will release its third quarter 2021 financial results before market open on November 9, 2021. A conference call hosted by management will follow at 8:30 a.m. ET to discuss the results and provide a business update. The call will be available via webcast on the company’s website. Dicerna focuses on developing RNA interference (RNAi) therapeutics targeting diseases caused by specific genes, leveraging its GalXC™ platforms.
Dicerna Pharmaceuticals (Nasdaq: DRNA) announced top-line results from its PHYOX4 study, demonstrating that nedosiran is generally safe and well-tolerated in patients with primary hyperoxaluria type 3 (PH3). The trial met primary safety endpoints, but did not achieve the prespecified secondary efficacy endpoint. Data indicated encouraging trends in urinary oxalate reduction with nedosiran. Dicerna plans to submit a New Drug Application (NDA) for nedosiran's treatment of PH type 1 (PH1) by Q4 2021.
