ARTICLE | Company News
Roche (SIX:ROG; OTCQX:RHHBY) is acquiring cancer company Ignyta Inc. (NASDAQ:RXDX) for $27 per share, or $1.7 billion, in cash. The price is a 74% premium to Ignyta's close Thursday of $15.55.
The deal gives Roche entrectinib (formerly RXDX-101), which is in the pivotal Phase II STARTRK-2 basket trial to treat several types of fusion-positive solid tumors. The therapy is an oral inhibitor of c-ros proto-oncogene 1 receptor tyrosine kinase (ROS1), neurotrophic tyrosine kinase receptor 1 (TrkA; NTRK1), TrkB (NTRK2), TrkC (NTRK3), and anaplastic lymphoma kinase (ALK)...