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G1 Therapeutics, Inc. (Nasdaq: GTHX) is a commercial-stage oncology biopharmaceutical company committed to developing next-generation therapies to improve the lives of cancer patients. The company is based in Research Triangle Park, N.C., and leverages its proprietary kinase drug discovery platform to advance a pipeline of innovative compounds. G1's flagship product, COSELA® (trilaciclib), has been approved by the FDA to decrease the incidence of chemotherapy-induced myelosuppression in patients with extensive-stage small cell lung cancer (ES-SCLC).
In addition to COSELA, G1 Therapeutics is actively developing and evaluating trilaciclib in combination with other anti-cancer therapies. One notable project is the global, multi-center, randomized, placebo-controlled Phase 3 trial known as PRESERVE 2, which investigates trilaciclib in patients with metastatic triple-negative breast cancer (mTNBC). Preliminary results have shown promising survival benefits, indicating trilaciclib’s potential to protect bone marrow and enhance patient outcomes during cytotoxic therapy.
The company also engages in strategic partnerships to broaden its impact. For instance, G1 Therapeutics has entered agreements with companies like Pepper Bio and Jupiter Bioventures to advance the clinical development and commercialization of lerociclib, another promising CDK4/6 inhibitor. These collaborations aim to explore lerociclib's efficacy in treating various cancers, including HCC and radioprotection uses.
On the financial front, G1 Therapeutics reported revenues of $82.5 million for the full year 2023, reflecting significant growth from $51.3 million in the previous year. The company's ongoing commitment to innovation and strategic collaborations underscores its role as a key player in oncology therapeutics.
For more information, visit G1 Therapeutics and follow them on Twitter and LinkedIn.
Pharmacosmos A/S has successfully completed the tender offer to acquire G1 Therapeutics (Nasdaq: GTHX) for $7.15 per share in cash, valuing the company at approximately $405 million. The transaction aims to maximize the access and uptake of COSELA® (trilaciclib), the first and only proactive multilineage myeloprotection agent. As of the expiration date, 74.64% of outstanding G1 Therapeutics shares were validly tendered. Following the merger, G1 Therapeutics will become a wholly owned subsidiary of Pharmacosmos Therapeutics Inc. G1 Therapeutics shares will be delisted from NASDAQ and deregistered under the Securities Exchange Act of 1934.
Pharmacosmos A/S and G1 Therapeutics, Inc. (Nasdaq: GTHX) announced the expiration of the Hart-Scott-Rodino Act waiting period for Pharmacosmos' acquisition of G1 Therapeutics. This satisfies a key condition for the tender offer, which is set to expire on September 17, 2024. The acquisition, announced on August 7, 2024, values G1 Therapeutics at $405 million, or $7.15 per share in cash. This represents a 68% premium to G1's closing price on August 6 and a 133% premium to the 30-day volume-weighted average price. The deal remains subject to other customary closing conditions, including the tender of a majority of G1's outstanding shares.
G1 Therapeutics (Nasdaq: GTHX) reported Q2 2024 financial results and operational highlights. Key points include:
1. Merger agreement with Pharmacosmos for $7.15 per share, expected to close in late Q3 2024.
2. COSELA net revenue of $15.8 million, a 12% increase from Q1.
3. Reaffirmed 2024 COSELA net revenue guidance of $60-70 million.
4. Q2 net loss of $5.5 million, compared to net income of $8.7 million in Q2 2023.
5. Cash runway extended to anticipated profitability in H2 2025.
6. License agreements for lerociclib with Pepper Bio and Deimos Biosciences.
7. Positive Phase 2 results for trilaciclib in combination with TROP2 ADC.
8. Discontinued mTNBC indication after Phase 3 PRESERVE 2 trial missed primary OS endpoint.
Pharmacosmos Group has announced its acquisition of G1 Therapeutics (Nasdaq: GTHX) for $7.15 per share in cash, valuing the company at approximately $405 million. This represents a 68% premium to G1's closing share price on August 6, 2024. The acquisition aims to enhance the availability of COSELA® (trilaciclib), G1's FDA-approved drug for extensive-stage small cell lung cancer (ES-SCLC) patients. Pharmacosmos, with its expertise in hematology and supportive care, plans to leverage G1's commercial platform to maximize COSELA's market penetration. The transaction is expected to close in late Q3 2024, subject to customary conditions.
G1 Therapeutics (Nasdaq: GTHX), a commercial-stage oncology company, has announced the grant of inducement equity awards to five new employees. The awards include stock options for 12,300 shares and 6,150 restricted stock units (RSUs) under the Amended and Restated G1 Therapeutics, Inc. 2021 Inducement Equity Incentive Plan. These grants comply with Nasdaq Listing Rule 5635(c)(4) for inducement material.
The stock options have an exercise price of $4.20 per share, based on the closing price on August 1, 2024. They have a ten-year term and vest over four years, with 25% vesting after the first year and 1/48th monthly thereafter. The RSUs have a four-year term, with 25% vesting after the first year and 12.5% semi-annually for the remaining three years. Both are subject to continued employment and plan conditions.
G1 Therapeutics (Nasdaq: GTHX), a commercial-stage oncology company, has announced its upcoming second quarter 2024 financial results and business update webcast and conference call. The event is scheduled for Thursday, August 8, 2024, at 8:30 a.m. ET. Interested parties can register online to receive dial-in information and a unique PIN for the live conference call. While not mandatory, it's recommended to join 10 minutes before the event starts.
A live and archived webcast will be available on the company's website under the Events & Presentations page. The webcast will remain accessible for 90 days following the event, providing an opportunity for those unable to attend the live call to review the information later.
G1 Therapeutics (Nasdaq: GTHX) has been added to the Russell 2000 and 3000 Indexes following the 2024 Russell US Indexes annual reconstitution. Effective July 1, 2024, this inclusion reflects the company's market capitalization as of April 30, 2024. Membership in the Russell 3000 Index ensures G1 Therapeutics' automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index and relevant style indexes. The Russell indexes, managed by FTSE Russell, serve as benchmarks for approximately $10.5 trillion in assets. For further details, visit the FTSE Russell website's 'Russell Reconstitution' section.
G1 Therapeutics announced that their Phase 3 PRESERVE 2 trial for trilaciclib did not meet its primary endpoint of overall survival (OS) in metastatic triple negative breast cancer (mTNBC) patients. The trial involved 187 patients and showed a hazard ratio (HR) of 0.91 with a p-value of 0.884, indicating no significant treatment effect.
The median OS was 17.4 months for the trilaciclib plus chemotherapy arm versus 17.8 months for the control. The safety profile was consistent with prior studies, showing myeloprotection but no new safety signals. Severe neutropenia was reduced from 29% to 8% with trilaciclib.
G1 Therapeutics will focus on the global extensive-stage small cell lung cancer (ES-SCLC) market and is aiming for profitability in the second half of 2025. They anticipate COSELA net revenue of $60-70 million in 2024 and are implementing cost-cutting measures to extend their cash runway.
G1 Therapeutics (Nasdaq: GTHX) announced on June 5, 2024, the granting of inducement stock options and restricted stock units (RSUs) to one newly hired employee under its Amended and Restated 2021 Inducement Equity Incentive Plan. The grants include 4,650 stock options exercisable at $3.23 per share, the closing price of GTHX stock on June 3, 2024, and 2,400 RSUs. The stock options vest over four years with a ten-year term, while the RSUs vest over four years with 25% vesting after one year and the remainder semi-annually over three years. These awards follow Nasdaq Listing Rule 5635(c)(4) and are intended as an inducement for the new employee's employment.
G1 Therapeutics announced Phase 2 trial results showing that trilaciclib, combined with sacituzumab govitecan (SG), extends overall survival (OS) in metastatic triple-negative breast cancer (mTNBC) patients compared to SG alone.
Key findings include a median OS improvement to 15.9 months in the intent-to-treat (ITT) population and up to 17.9 months in a more comparable patient population. Trilaciclib also reduced multiple adverse events like neutropenia, anemia, and diarrhea.
The results will be presented at the 2024 ASCO meeting and support further evaluation in combination trials.
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