All articles tagged with #verve therapeutics
Major stock indexes declined amid geopolitical tensions involving Iran and Israel, while biotech firm Verve Therapeutics surged 75% on Eli Lilly's $1.3 billion acquisition. Other notable movers included Jabil and Circle Internet, with economic data showing a drop in retail sales and industrial production. The market remains volatile but offers opportunities for growth stocks, with some breaking out past buy points.
Verve Therapeutics' stock nearly doubled after Eli Lilly announced a $1.3 billion takeover, boosting gene-editing stocks. Lilly's acquisition includes a $10.50 per share offer plus a contingent value right, reflecting confidence in Verve's gene-editing treatments for cardiovascular diseases, despite some safety concerns in earlier trials. The deal is seen as a win for Verve shareholders and highlights Lilly's strategic interest in gene therapy for heart conditions.
Eli Lilly is set to acquire Verve Therapeutics in a deal valued at up to $1.3 billion to advance gene editing treatments that could provide lifelong cardiovascular risk reduction with a single dose, focusing on genes linked to atherosclerotic cardiovascular disease.
Eli Lilly is in advanced negotiations to acquire Verve Therapeutics for up to $1.3 billion, aiming to expand its pipeline with gene-editing therapies, particularly targeting cholesterol treatment, in a strategic move during a period of cautious dealmaking in the pharma industry.
Verve Therapeutics has reported promising preliminary results from the first test of its one-time treatment, VERVE-101, which utilizes base editing, a form of CRISPR, to lower bad cholesterol levels in patients with an inherited type of cardiovascular disease. Three out of the ten participants showed significant reductions in LDL-C levels, with one patient maintaining the decline for six months. This study marks the first data in patients using base editing to modify DNA, and the results highlight the potential of gene-editing treatments in treating cardiovascular conditions.
Eli Lilly has entered into a deal with Verve Therapeutics, acquiring the rights to three gene-editing drugs for $250 million upfront. Verve aims to use these drugs to lower proteins associated with high levels of "bad" cholesterol and triglycerides. Additionally, Eli Lilly will buy Beam Therapeutics' opt-in rights for the three cardiovascular programs for $200 million in cash and a $50 million equity investment. Verve's stock soared 28% following the announcement, while Beam's stock surged 10.6%.
Eli Lilly is acquiring Beam Therapeutics' opt-in rights to co-develop and co-commercialize Verve Therapeutics' base editing treatments in the cardiovascular disease space. This move is part of Lilly's ongoing efforts to strengthen its research in genetic medicines, following its previous $60 million upfront payment to Verve for a preclinical-stage program targeting lipoprotein(a).