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Darwin Global Management has issued a letter urging shareholders of Acceleron Pharma Inc. (XLRN) to reject Merck's (MRK) proposed acquisition offer of
Holocene Advisors, a significant shareholder of Acceleron Pharma (XLRN), announced it will not tender its shares into Merck's (MRK) $180 per share offer. Holocene stated that the offer undervalues Acceleron, based on analysis and its strong pipeline, particularly the drug sotatercept, which shows promise for treating pulmonary arterial hypertension and could generate substantial sales. Holocene expressed concerns that proceeding with the current offer would deprive XLRN shareholders of significant value and highlighted the potential for increased value as more clinical data becomes available.
Merck (NYSE: MRK) has launched a cash tender offer for all outstanding shares of Acceleron Pharma Inc. (NASDAQ: XLRN), following their definitive acquisition agreement announced on Sept. 30, 2021.
Stockholders of Acceleron will receive $180 per share upon successful closing. The tender offer expires at 5:00 p.m. ET on Nov. 10, 2021. The deal is contingent upon receiving regulatory approvals and the majority of Acceleron shares being tendered.
Avoro Capital, a significant stakeholder in Acceleron Pharma (XLRN), has expressed concerns over the proposed acquisition by Merck (MRK) at $180 per share. This price represents a mere 38% premium, significantly lower than the average 89% for similar transactions since 2020. Avoro argues that the deal undervalues Acceleron, especially with promising data for its sotatercept candidate, currently in phase 3 trials and designated as a Breakthrough Therapy by the FDA. Avoro calls for a reassessment of the merger valuation due to the company's growing potential.
Merck (NYSE: MRK) has announced its acquisition of Acceleron Pharma (NASDAQ: XLRN) for $180 per share, totaling approximately $11.5 billion. This strategic move aims to enhance Merck's cardiovascular pipeline, particularly with the integration of sotatercept, a promising therapy in Phase 3 development for pulmonary arterial hypertension (PAH). The deal underscores Merck's commitment to sustainable growth and innovation in treating cardiovascular diseases and is expected to close in Q4 2021.
Acceleron Pharma (Nasdaq:XLRN) reported its Q2 2021 financial results, highlighting ongoing clinical developments in its pulmonary and hematology programs. Revenue reached $27.9 million, primarily driven by $25.6 million in royalty revenue from REBLOZYL, reflecting growth from $22.4 million in Q1 2021. The company has a cash position of $712.5 million as of June 30, 2021. Key clinical advancements include ongoing Phase 2 and planned Phase 3 trials for sotatercept in pulmonary hypertension and ACE-1334 in systemic sclerosis-associated interstitial lung disease. The company anticipates its current financial resources will sustain operations for the foreseeable future.
Acceleron Pharma (Nasdaq:XLRN) reported net sales of REBLOZYL (luspatercept-aamt) at approximately $128 million for Q2 2021. The expected royalty revenue from these sales is about $25.6 million, up from $22.4 million in Q1 2021. The revenue estimates are preliminary and subject to final review. Acceleron continues to develop therapies for serious diseases, focusing on pulmonary and hematologic conditions. They are advancing sotatercept for pulmonary hypertension and expanding the REBLOZYL collaboration with Bristol Myers Squibb.
Acceleron Pharma announced a webcast and conference call on August 5, 2021, at 5:00 p.m. EDT to discuss its Q2 2021 financial results. The event will be accessible via the company's website. The company focuses on therapeutics for serious diseases, particularly pulmonary and hematologic conditions. Acceleron is advancing sotatercept for pulmonary hypertension, following positive Phase 2 results, and is set to initiate the CADENCE Phase 2 trial this year. REBLOZYL, in collaboration with Bristol Myers Squibb, targets anemia in specific blood disorders.
Bristol Myers Squibb (BMY) and Acceleron Pharma (XLRN) presented promising results from the Phase 2 BEYOND study on Reblozyl® (luspatercept-aamt) for adult patients with non-transfusion dependent beta thalassemia at the EHA 2021 Virtual Congress. 77.7% of patients treated with Reblozyl showed a hemoglobin increase of ≥1.0 g/dL, compared to 0% in the placebo group. The study highlights Reblozyl's potential in improving the quality of life for patients, addressing a significant unmet medical need. The study involved 145 patients over a 48-week treatment period, showing higher efficacy than placebo.
Acceleron Pharma (Nasdaq:XLRN) has announced a Virtual R&D Day scheduled for June 22, 2021, from 8:00 a.m. to 11:00 a.m. EDT. The event will feature the leadership team and external experts discussing ongoing and planned trials in rare pulmonary diseases. Notable guest presenters include Drs. Mardi Gomberg-Maitland, Marc Humbert, and Vallerie McLaughlin. A live webcast will be accessible on the company's website, with an archived recording available for replay afterwards. Acceleron is focused on developing treatments for pulmonary and hematologic diseases, including sotatercept for pulmonary arterial hypertension.
