On eve of pivotal data, Reata pays AbbVie $330M to regain cardiorenal candidates

With AbbVie having turned away from cardiovascular and renal indications, Reata reacquired rights to bardoxolone and second-generation NRF2 activators from its long-standing partner for $330 million in cash ahead of upcoming pivotal readouts for two of the compounds.

Reata Pharmaceuticals Inc. (NASDAQ:RETA), which gained $9.89 (13%) to $85.98 Thursday, expects data by year end from the Phase III portion of the CARDINAL study of bardoxolone methyl for chronic kidney disease caused by Alport syndrome and the Phase II MOXIe study of omaveloxolone for Friedreich ataxia, a neuromuscular disorder in which patients often have hypertrophic cardiomyopathy and some develop diabetes...