I-25 fatal traffic crash causes one death near Castle Rock
Alfasigma To Acquire Intercept Pharma Fo $19 Per Share In Cash
Italy’s pharma company Alfasigma S.p.A announced on Tuesday that it has signed a definitive agreement to acquire Intercept Pharmaceuticals Inc. (ICPT) for $19.00 per share in cash. The purchase price represents a premium of 82% to Intercept’s closing stock price on September 25.
The acquisition will help expand the gastrointestinal and hepatology portfolio as well as the global footprint of Alfasigma via a leader in rare and serious liver diseases.
The transaction is expected to close by the end of 2023. Upon completion of the transaction, Intercept’s common stock will no longer be publicly listed.
Intercept’s lead medicine is Ocaliva is the only approved second-line therapy for PBC in the U.S. and has experienced double-digit year-over-year growth. Intercept also benefits from a broader clinical development pipeline.
Francesco Balestrieri, Chief Executive Officer of Alfasigma, said: “Intercept represents a compelling fit with Alfasigma’s core business areas of gastroenterology and hepatology, and we believe that the transaction represents a transformational opportunity for both companies.”
Sirius XM Receives Proposal From Liberty Media; Stocks Move In Pre-market
Sirius XM Holdings Inc. (SIRI), an audio entertainment company, announced on Tuesday that it has acknowledged the receipt of a proposal from Liberty Media Corp. (LSXMK) where it has outlined combining Liberty SiriusXM with Sirius XM to create New SiriusXM.
Sirius XM is evaluating the proposal together with its advisors, Solomon Partners Securities, LLC and Debevoise & Plimpton LLP and it has not made any decisions with respect to the non-binding proposal.
The company advises its shareholders not to take any action at this time.
As per the proposal terms, the assets and liabilities of Liberty SiriusXM tracking stock group from Liberty Media will be split off to form a new company NewCo that will then combine with SiriusXM.
Consequently, the holders of Liberty SiriusXM tracking stock and SiriusXM common stock would all hold one class of common stock of the combined company.
In pre-market activity, shares of Sirius XM are trading at $3.64, down 9.23% and shares of Liberty Sirius are trading at $24.85, up 9.81% on Nasdaq.
Biogen Completes Acquisition Of Reata Pharmaceuticals; Plans To Update 2023 Guidance
Biogen Inc. (BIIB) has completed the acquisition of Reata Pharmaceuticals, Inc. (RETA). As a result, Biogen has now acquired SKYCLARYS, and other clinical and preclinical pipeline programs. SKYCLARYS is the first and only FDA approved treatment for Friedreich’s ataxia in the U.S. The commercial launch of SKYCLARYS is underway in the U.S. and European regulatory review is ongoing.
Biogen expects significant synergies with its existing rare disease portfolio and plans to update its 2023 financial guidance in conjunction with its third quarter earnings release. The company expects acquisition of Reata to be slightly dilutive to Non-GAAP earnings per share in 2023, roughly neutral in 2024, and significantly accretive beginning in 2025, inclusive of associated transaction costs.
Reata’s class A common stock will no longer be listed for trading on the Nasdaq Global Market.
Acasti Pharma Spikes On $7.5 Mln Private Placement
Acasti Pharma Inc. (ACST) shares are surging more than 32 percent on Tuesday morning trade after the company announced the closing of the $7.5 million private placement on Tuesday.
The Company currently intends to use the net proceeds for clinical trial expenses to further the Phase 3 clinical trial for GTX-104.
Currently, shares are at $2.35, up 34.28 percent from the previous close of $1.75 on a volume of 756,825.
Roivant Up 18% On Initial IMVT-1402 Phase 1 SAD, 300 Mg Subcutaneous MAD Results.
Shares of Roivant Sciences Ltd. (ROIV) increased by 18% on Tuesday due to positive news from its subsidiary, Immunovant Inc., regarding IMVT-1402 Phase 1 SAD and 300 mg subcutaneous MAD results.
ROIV is trading on the Nasdaq at $12.14, up 18.90% or $1.93 per share. It has traded between $2.97 and $12.84 in the past 52-week period.
The results of the Phase 1 clinical trial revealed that IMVT-1402 is a promising neonatal FcRn inhibitor with a consistent reduction in IgG during the single-ascending dose (SAD) portion of the study. It has been identified as a best-in-class inhibitor as it did not have any adverse effects on serum albumin or LDL-C levels.
The company said that the safety data were favorable, with all adverse events being mild or moderate.
The initial results for the 300 mg cohort of the MAD study showed a mean total IgG reduction of 63% with no negative impact on serum albumin or LDL-C levels.
The company also announced the commencement of the dosing for the 600 mg cohort.
Denver weather: Above-normal heat, high of 84 degrees expected
Just as the arrival of fall brought some excitement, temperatures in Denver have risen well above normal with no end in sight.
Highs in the 80s are expected through next week. Tuesday’s high is 84 degrees, with clear skies and not much wind.
Tuesday’s low is a chill 53 degrees with winds between 6 mph and 10 mph. Gusts could be up to 15 mph.
The rest of the week’s forecasts look nearly identical, but highs will climb even higher. Thursday has the warmest expected high of 87 degrees.
The next rain chance is Sunday, when there will be only a slight chance of storms.
I-25 fatal traffic crash causes one death near Castle Rock
A person was killed on Interstate 25 early Tuesday morning after they were hit by a vehicle.
The crash was reported in the northbound lanes of the interstate just after 6 a.m. near Happy Canyon Road two miles north of Castle Rock, Colorado State Patrol spokesperson Gabriel Moltrer said.
The northbound lanes of the interstate were completely closed for a short time after the crash, but two lanes have reopened. Two lanes are still closed, according to the Colorado State Patrol.
The vehicle is still at the scene, Moltrer said, but he did not have any information on the driver.