ARTICLE | Deals
Precision oncology readout becomes Five Prime’s denouement, driving $1.9B Amgen takeout
Target-validating data in genetically-defined cancer spurs buyout
March 4, 2021 8:33 PM UTC
Roughly 19 years into Five Prime’s tortuous history, a target-validating readout in a genetically-defined subset of cancer patients spurred the biotech’s $1.9 billion buyout by Amgen, representing the latest signal of outsized interest in precision oncology.
Amgen Inc. (NASDAQ:AMGN) will pay $38 per share to acquire Five Prime Therapeutics Inc. (NASDAQ:FPRX), representing a 79% premium over the biotech’s close at $21.26 on Wednesday...
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