3:56 PM
Nov 14, 2017
 |  BC Extra  |  Company News

Bayer, Loxo enter $1.6B cancer deal

Loxo Oncology Inc. (NASDAQ:LOXO) and Bayer AG (Xetra:BAYN) partnered on Tuesday to develop and commercialize larotrectinib (LOXO-101) and LOXO-195 worldwide. Loxo will receive $400 million up front, and is eligible for $1.2 billion in milestones, plus tiered double-digit royalties. Loxo slid $3.39 to $79.84 on the news as some investors were likely hoping for the company to be acquired instead of striking a partnership.

LOXO-195 is in Phase I/II testing to treat patients...

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