FMTX - FMTX STOCK NEWS

Novo Nordisk has agreed to acquire Forma Therapeutics for $20 per share, valuing the deal at approximately $1.1 billion. This acquisition aims to enhance Novo Nordisk's pipeline in hemoglobinopathies, particularly focusing on sickle cell disease (SCD). Forma's lead candidate, etavopivat, is an investigational therapy aimed at improving red blood cell health in SCD patients. The deal, which includes a 92% premium over Forma's recent share price, has been approved by Forma's Board and is expected to close in the fourth quarter of 2022.

Forma Therapeutics Holdings, Inc. (Nasdaq: FMTX) reported its Q2 2022 results, highlighting advancements in its clinical programs, including promising analyses from the etavopivat study for sickle cell disease, which indicated reduced pain-related adverse events. The company entered a license agreement with Rigel Pharmaceuticals for olutasidenib, potentially earning up to $235 million in milestones. As of June 30, 2022, cash reserves stood at $395.9 million, projected to last through Q3 2024. Despite progress, the net loss increased to $52.6 million, up from $43.6 million in Q2 2021.

Rigel Pharmaceuticals and Forma Therapeutics have announced a worldwide licensing agreement for olutasidenib, a potential treatment for relapsed/refractory acute myeloid leukemia (R/R AML). The FDA has accepted Forma's New Drug Application with a PDUFA date set for February 15, 2023. Rigel will pay Forma an upfront fee of $2 million, with additional milestones potentially totaling $215.5 million. Olutasidenib showed a 33% complete remission rate in a Phase 2 trial, with an 18-month survival rate of 87% among responders. This agreement expands Rigel's oncology portfolio, enhancing its commercialization capabilities.

Forma Therapeutics (NASDAQ: FMTX) announced it will release its second quarter 2022 financial results on August 5, 2022. The company focuses on developing therapies for sickle cell disease, prostate cancer, and other rare conditions. An investment community conference call will take place at 8 a.m. EDT on the same day to discuss these results and provide a business update. Investors can register for the call and access a live webcast on Forma's website.

Forma Therapeutics Holdings, Inc. (Nasdaq: FMTX) has granted non-qualified stock options and restricted stock units (RSUs) to Agustín Melián, M.D. and Linea Aspesi as part of their inducement agreements. Dr. Melián received options for 118,000 shares and RSUs for 79,000 shares, while Ms. Aspesi received options for 59,000 shares and RSUs for 39,000 shares. The stock options have an exercise price of $8.20 per share and will vest over four years. These grants were issued as a condition of their employment, effective July 11, 2022.

Forma Therapeutics Holdings has announced the appointment of Agustín Melián, M.D. as Executive VP, Head of Research and Development, and Linea Aspesi as Senior VP, Chief Human Resources Officer, effective July 11, 2022. These appointments are aimed at enhancing the company’s capabilities in late-stage drug development and global commercialization. Melián brings over 20 years of experience in developing therapies for rare diseases, while Aspesi has a strong background in aligning human resources strategies with the company’s vision.

Forma Therapeutics (NASDAQ: FMTX) announced updated results from its Phase 1 study of etavopivat in sickle cell disease, highlighting its potential to improve hemoglobin levels and reduce vaso-occlusive crises.

The company will present findings at several upcoming conferences, including the European Hematology Association and the Global Congress on Sickle Cell Disease.

These presentations will focus on the treatment's tolerability and efficacy, marking a crucial step in the development of therapeutics for sickle cell disease and related hematologic conditions.

Forma Therapeutics (NASDAQ: FMTX) has announced its participation in the Jefferies Healthcare Conference scheduled for June 8-10, 2022, with a presentation on June 9, 2022, at 2:00 p.m. EDT. This clinical-stage biopharmaceutical company focuses on developing therapies for sickle cell disease, prostate cancer, and other rare blood disorders. A webcast of the conference will be accessible via the company's website in the News & Investors section.

Forma Therapeutics has announced the expansion of its etavopivat program targeting sickle cell disease, thalassemia, and myelodysplastic syndromes (MDS). A Phase II trial is ongoing for transfusion-dependent populations, with interim analysis planned for late 2022. Additionally, the Phase I trial for FT-7051 in metastatic castration-resistant prostate cancer is progressing, while FT-3171, a USP1 inhibitor, is expected to have an IND filing in H1 2023. The company holds $441 million in cash to support its R&D efforts across these therapeutic areas.