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Amgen’s Acquisition Of ChemoCentryx To Add Potential Blockbuster Drug To Its List – $AMGN $CCXI $ATOS $DIA

By John F. Heerdink, Jr.

As per reports, Amgen Inc is to acquire ChemoCentryx Inc for $3.7 billion to gain access to a potential blockbuster treatment, Tavneos for inflammatory disorders. The U.S drug maker is to pay $52 in cash for each share of ChemoCentryx.

Approved last year, Tavneos is used to treat patients with vasculitis, a rare form of blood vessel inflammation. The condition is caused by an over-activation of the immune system and can be fatal if not treated. Tavneos brought in sales of $5.4 million in the first full quarter of its launch. 

According to ChemoCentryx, the disease affects about 40,000 people in the United States, with about 4,000 new cases each year. The buyout will also hand Amgen control of at least two experimental therapies for immune disorders, an emerging field. ChemoCentryx is also developing a cancer drug.

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Atossa Therapeutics, Inc. (Nasdaq: ATOS) is a clinical-stage biopharmaceutical company seeking to discover and develop innovative medicines in areas of significant unmet medical need with a current focus on breast cancer and COVID-19.

On Aug. 25th, Atossa’s CEO, Dr. Steven Quay, M.D., Ph.D., and Kyle Guse, GC & CFO presented at Tribe Public’s Webinar Presentation and Q&A Event. During this complimentary event, Atossa management spoke of new opportunities for its inhalation therapy, AT-H201, to potentially treat lung injury caused by cancer treatment and were available for a Q&A session focused on Atossa’s research programs and future development. To watch the event video titled The Important Role For Inhalation Therapy In Oncology” please visit the Tribe Public YouTube Channel.  

On Aug. 8, Atossa announced their financial results for the fiscal quarter ended June 30, 2022, and provided an update on recent company developments. Dr. Steven Quay, Atossa’s President and Chief Executive Officer stated, “We continue to make steady progress with our Endoxifen programs: one to reduce tumor cell activity in breast cancer patients in the neoadjuvant setting; and another to reduce dense breast tissue in women. Our work on AT-H201 demonstrated valuable outcomes, not the least of which was an understanding of how to pursue its development in the field of oncology. With the widespread availability of SARS-CoV-2 vaccines and other therapies now approved to treat COVID-19, we believe that altering the development pathways for AT-H201 in cancer patients with compromised lung-function resulting from radiation treatment may fill a compelling unmet medical need and create additional value for our stockholders. Lung injury caused by radiation treatment affects 30-40% of lung cancer patients, and ~35% of esophageal cancer patients. In non-small cell cancer patients receiving concurrent chemotherapy and radiation therapy the incidence of lung injury is estimated to be greater than 60%. As we previously announced, rather than proceeding with Part D of the AT-H201 study in COVID-19 patients, we plan to quickly initiate a clinical study of patients with compromised lung function caused by radiation treatment and we anticipate announcing next steps in the coming months.”

(Read Original Story: Amgen adds potential blockbuster drug with $3.7 billion ChemoCentryx deal in Reuters)


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