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Amgen has completed its acquisition of Five Prime Therapeutics for $1.9 billion, paying $38.00 per share. The merger integrates Five Prime's immuno-oncology assets into Amgen's oncology portfolio, notably the bemarituzumab program for gastric cancer. This adds to Amgen's capabilities in treating cancers prevalent in regions like Japan and Latin America. Amgen accepted 87.8% of Five Prime's shares, leading to its delisting from NASDAQ. The acquisition aims to enhance patient solutions and align with Amgen's growth strategy in oncology.
Five Prime Therapeutics, Inc. (NASDAQ: FPRX) has announced the cancellation of its fourth quarter and full year 2020 earnings call, originally set for March 10, 2021. This decision follows the recent agreement for Amgen Inc. to acquire the company. The financial results for the fourth quarter and full year 2020 will be disclosed in the upcoming Form 10-K filing with the SEC. Five Prime is focused on developing novel cancer therapies and has established collaborations with major pharmaceutical companies.
Amgen and Five Prime Therapeutics announced an acquisition agreement where Amgen will acquire Five Prime for $38.00 per share, totaling an equity value of approximately $1.9 billion. This strategic acquisition aims to enhance Amgen's oncology portfolio with Five Prime's innovative therapies, particularly the bemarituzumab antibody, which shows promise in treating advanced gastric cancer. The transaction is projected to close by the end of Q2 2021, subject to customary conditions.
Amgen has announced its acquisition of Five Prime Therapeutics for $38.00 per share, valuing the deal at approximately $1.9 billion. This acquisition enhances Amgen's oncology portfolio by adding Five Prime's promising drug, bemarituzumab, which targets FGFR2b in gastric cancer and shows positive Phase 2 trial results. The deal supports Amgen's expansion strategy in the Asia-Pacific region, where gastric cancer is prevalent. The transaction is set to close by the end of the second quarter, pending regulatory approvals.
Five Prime Therapeutics, Inc. (NASDAQ: FPRX) will announce its fourth quarter and full year 2020 financial results on March 10, 2021, post market closure. The company will hold a conference call and live webcast at 4:30 p.m. ET to discuss the results and provide a general business update. Interested individuals can access the event through the company's website or by calling the provided numbers. The archived call will be available for at least 30 days following the event. For further details, visit www.fiveprime.com.
Five Prime Therapeutics (NASDAQ: FPRX) announces participation in the Cowen 41st Annual Health Care Conference on March 4, 2021, at 10:30 a.m. ET. CEO Tom Civik and CMO Helen Collins will engage in a fireside chat. A live audio webcast will be available for replay from the company’s website for 30 days post-conference. As a clinical-stage biotechnology company, Five Prime focuses on developing breakthrough cancer therapies, collaborating with patients and industry partners to improve treatment outcomes.
Five Prime Therapeutics (NASDAQ: FPRX) announced that CEO Tom Civik and CMO Helen Collins, M.D. will participate in a fireside chat at the SVB Leerink 10th Annual Global Healthcare Conference on February 25, 2021, at 10:00 a.m. ET.
The live audio webcast can be accessed from the 'Events & Presentations' section of the company’s website. An archived replay will be available for 30 days after the conference.
Five Prime is dedicated to developing innovative cancer therapies through collaboration with patients, scientists, and pharmaceutical partners.
Five Prime Therapeutics (NASDAQ: FPRX) announced that CEO Tom Civik and CMO Helen Collins will participate in a fireside chat at the virtual Guggenheim Healthcare Talks: Oncology Day on February 12, 2021, at 1:00 p.m. ET. The session will be accessible via a live audio webcast, with a replay available for 30 days on the Company’s website. Five Prime is a clinical-stage biotechnology firm focused on developing innovative cancer therapies to change treatment paradigms for patients with limited options.
Five Prime Therapeutics, Inc. (NASDAQ: FPRX) announced positive results from the Phase 2 FIGHT trial of bemarituzumab for advanced gastric or gastroesophageal junction cancer. The trial met all efficacy endpoints, showing significant improvements in progression-free survival (PFS), overall survival (OS), and overall response rate (ORR) among FGFR2b-positive patients. Notably, the investigational arm demonstrated a median PFS of 9.5 months, compared to 7.4 months in the control arm. Despite ocular side effects leading to discontinuation in some cases, the trial's results support initiating a global Phase 3 trial and exploring other cancer applications for bemarituzumab.
Five Prime Therapeutics (NASDAQ: FPRX) announced the Phase 2 FIGHT trial results for bemarituzumab, a treatment for FGFR2b+ advanced gastric and gastroesophageal junction cancers. The trial met all efficacy endpoints, demonstrating significant improvements in progression-free and overall survival rates compared to placebo. Presented on January 15, 2021, at the ASCO Gastrointestinal Cancers Symposium, these results indicate bemarituzumab's potential as a first-line therapy. FGFR2b is found in 30% of these cancer types, with further development opportunities in other cancers.
