RAPT Therapeutics (NASDAQ:RAPT) will collaborate with South Korea’s Hanmi Pharmaceutical Co., Ltd. to develop and commercialize cancer candidate FLX475, a CCR4 antagonist, in Asia.
Under the terms of the agreement, RAPT will receive $10M upfront, up to $48M in development milestones, up to $60M in sales milestones and double-digit royalties on net sales. Hanmi will have an exclusive license to FLX475 in South Korea and China (including Taiwan and Hong Kong).
Shares up 12% after hours.
Adamas Pharmaceuticals (NASDAQ:ADMS) slips 1% after hours on the heels of its agreement with Cowen and Company for the at-the-market sale of up to $50M of its common stock. Cowen will earn a 3% commission for its efforts.
Aerie Pharmaceuticals (NASDAQ:AERI) has submitted its marketing application in Europe seeking approval of Roclanda (netarsudil and latanoprost ophthalmic solution) 0.02%/0.005% for the reduction of intraocular pressure in patients with open-angle glaucoma or ocular hypertension.
The product was approved in the U.S. in March under the brand name Rocklatan.
Consistent with its stated strategy of trimming the number of off-patent medicines in favor of its main therapy areas, AstraZeneca (NYSE:AZN) has agreed to divest the U.S. and Canadian rights to Seroquel (quetiapine fumarate immediate release) and Seroquel XR (quetiapine fumarate extended release) to Cheplapharm Arzneimittel GmbH.
Under the terms of the agreement, Cheplapharm will pay AstraZeneca $35M upfront and up to $6M in sales-contingent payments. The company will continue to manufacture and supply the products during a transition period.
Seroquel generated $36M in sales in the two countries in 2018, while Seroquel XR generated $79M.
Cheplapharm owns the rights to the medicines in most European markets and Russia.
AstraZeneca’s previously announced 2019 guidance remains unaffected.
The FDA’s Oncologic Drugs Advisory Committee will meet on Wednesday, December 18, to review and discuss Bristol-Myers Squibb’s (BMY -0.4%) supplemental marketing application seeking approval to use Reblozyl (luspatercept-aamt) to treat patients with myelodysplastic syndromes (MDS), specifically those with very low-to-intermediate-risk MDS-associated anemia who have ring sideroblasts and require red blood cell transfusions.
The FDA approved the erythroid maturation agent last month for the treatment of anemia in adult patients with beta thalassemia who require regular red blood cell transfusions.
The company is co-developing the med with Acceleron Pharma (XLRN -0.7%).
