Gilead Sciences, Inc.’s GILD subsidiary, Kite, entered into a two-year research collaboration and license agreement with HiFiBiO Therapeutics to develop antibodies and novel targets against acute myeloid leukemia (AML).
Per the deal, HiFiBiO Therapeutics will develop the novel AML targets and anti-AML specific antibodies leveraging its proprietary single-cell platform, which will be used by Kite in its cell therapies.
HiFiBiO will receive an undisclosed upfront payment and be eligible for additional payments based on the completion of some research activities on the candidates. Meanwhile, Kite will have an exclusive option to opt in on any targets discovered through the collaboration, for which HiFiBiO will receive an additional payment.
Shares of Gilead have increased 1.4% year to date against he industry’s decline of 1.6%.
We remind investors that Gilead acquired Kite Pharma in 2017 to foray into the emerging field of cell therapy. Kite is a pioneer in cell therapy, having developed engineered cell therapies that express either a chimeric antigen receptor (CAR) or an engineered T-cell receptor (TCR), depending on the type of cancer.
Gilead has been actively entering into deals with various companies to develop its oncology portfolio. In March 2020, the company acquired immuno-oncology company, Forty Seven, Inc., and added magrolimab to its portfolio. Magrolimab is a monoclonal antibody in clinical development for the treatment of several cancers, including myelodysplastic syndrome (MDS), AML and diffuse large B-cell lymphoma (DLBCL). The company also signed a deal withJounce Therapeutics, Inc. JNCE to exclusively license the latter’snovel immunotherapy candidate, JTX-1811.JTX-1811,an anti-CCR8 monoclonal antibody, can selectively deplete immunosuppressive tumor-infiltrating T regulatory (TITR) cells.
Zacks Rank & Stocks to Consider
Gilead currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the healthcare sector include Emergent Biosolutions Inc. EBS and Horizon Therapeutics Public Limited Company HZNP, both sporting a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.
Emergent’s earnings estimates have increased from $3.45 to $6.32 for 2020 and from $4.31 to $7.01 for 2021 over the past 60 days. Shares of the company have increased 88.6% year to date.
Horizon Therapeutics’ earnings estimates have increased from $1.78 to $2.86 for 2020 and from $2.74 to $4.29 for 2021 over the past 60 days. Shares of the company have increased 170.6% year to date.
Gilead Sciences, Inc. Price
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Gilead Sciences, Inc. (GILD): Free Stock Analysis Report
Emergent Biosolutions Inc. (EBS): Free Stock Analysis Report
Horizon Therapeutics Public Limited Company (HZNP): Free Stock Analysis Report
Jounce Therapeutics, Inc. (JNCE): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research