from 8 AM - 9 PM ET. THOUSAND OAKS, Calif. and SOUTH SAN FRANCISCO, Calif., March 4, 2021 /PRNewswire/ --Amgen (NASDAQ: AMGN) and Five Prime Therapeutics (NASDAQ: FPRX), a clinical-stage biotechnology company focused on developing immuno-oncology and targeted cancer therapies, today announced an agreement under which Amgen will acquire Five Prime Therapeutics for $38.00 per share in cash, representing an equity value of approximately $1.9 billion. The Company offers innovative proteins, antibody therapeutics, and drugs for oncology and immunology diseases. The acquisition of Five Prime also supports Amgen's international expansion strategy. Amgen had previously announced a tender offer to buy all outstanding common stock at. THOUSAND OAKS, Calif. and SOUTH SAN FRANCISCO, Calif., March 4, 2021 /PRNewswire/ --Amgen (NASDAQ: AMGN) and Five Prime Therapeutics (NASDAQ: FPRX), a clinical-stage biotechnology company focused on developing immuno-oncology and targeted cancer therapies, today announced an agreement under which Amgen will acquire Five Prime Therapeutics for $38.00 per share in cash, representing an equity value of approximately $1.9 billion. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outcome, benefits and synergies of the Five Prime Therapeutics, Inc. acquisition, as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes, effects of pandemics or other widespread health problems such as the ongoing COVID-19 pandemic on our business. Five Prime Therapeutics granted an exclusive license to Zai Lab Limited to develop and commercialize bemarituzumab in Greater China, and Zai Lab collaborated with Five Prime Therapeutics on the Phase 2 FIGHT trial in Greater China. A biotechnology pioneer since 1980, Amgen has grown to be one of the world's leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential. Data on file. November 11, 2020 05:45 PM Eastern Standard Time. The huge jump came after Amgen ( AMGN 0.30%) announced plans to acquire Five Prime. 2 min read. Live audio of the conference call will be broadcast over the internet simultaneously and will be available to members of the news media, investors and the general public. We caution you that actual outcomes and results may differ materially from what is expressed, implied or forecasted by our forward-looking statements. The transaction is expected to close by the end of the second quarter and is subject to customary closing conditions, including the tender of at least a majority of the outstanding shares of Five Prime's common stock and the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. In this article we are going to take a look at smart money sentiment towards Five Prime Therapeutics Inc (NASDAQ:FPRX). Find information to help you serve people who need medicine. Amgen reaffirmed its full-year outlook with Revenue guidance of $25.8 to $26.6 billion and non-GAAP EPS guidance of $16.00-$17.00. The companys product candidates include FPA008, an antibody that inhibits colony stimulating factor-1 receptor and is in Phase Ib clinical trials for the treatment of rheumatoid arthritis; and in pre-IND. In addition to LAVA, he is currently a member of the boards of directors of Black Diamond Therapeutics, Inc., Replimune, Inc., Five Prime Therapeutics, Inc., Autolus Therapeutics plc, and Median Technologies. Accessed April 19, 2021. Drugs approved for stomach (gastric) cancer. Bray F, Ferlay J, Soerjomataram I, et al: Global cancer statistics 2018: GLOBOCAN estimates of incidence and mortality worldwide for 36 cancers in 185 countries. Peter H. Griffith, executive vice president and chief financial officer,DavidM. Reese, M.D., executive vice president of Research and Development, and Murdo Gordon, executive vice president of Global Commercial Operations at Amgen will participate. This week, the Dow Jones Industrial Average fell 1.4%, and the S&P 500 fell 1.5%. Year-over-year quarterly sales growth most recently was 21.4%. "With the outstanding team - deeply . We caution you that actual outcomes and results may differ materially from what is expressed, implied or forecasted by our forward-looking statements. Amgen has completed its planned acquisition of Five Prime Therapeutics for $38.00 per share in cash, or approximately $1.9 billion. All of these stocks' market caps resemble FPRX's market cap. The average hourly wage for a Clinical Statistician IV at companies like FIVE PRIME THERAPEUTICS INC in the United States is $73 as of December 27, 2022, but the range typically falls between $63 and $82. In addition, our business may be impacted by the adoption of new tax legislation or exposure to additional tax liabilities. Five Prime is based in San Francisco, California and has 51. "We see tremendous complementarity between the two companies. WhatsApp acquired by Facebook). This correlation suggests that FGFR2b could play a role in other epithelial cancers, including lung, breast, ovarian and other cancers. Neither can there be any guarantee that such product will be successfully commercialized even if regulatory approvals are obtained. Of the 176 passengers on board, 138 were en route to Canada. Five Prime Therapeutics, Inc. provides clinical stage biotechnology services. View contacts for Five Prime Therapeutics to access new leads and connect with decision-makers. Romaine Bostick breaks down the day's top stories and trading action leading into the close. THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND OTHER OFFER DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT WILL CONTAIN IMPORTANT INFORMATION THAT SHOULD BE READ CAREFULLY WHEN THEY BECOME AVAILABLE AND CONSIDERED BEFORE ANY DECISION IS MADE WITH RESPECT TO THE TENDER OFFER. Company well-positioned for potential FDA Subpart H approval and commercial launch of sparsentan for IgA nephropathy (IgAN) in 1Q23, followed by potential EMA approval in second half of 2023 Preliminary net product sales of $201 million for the full year 2022 SAN DIEGO, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Travere Therapeutics, Inc. (NASDAQ: TVTX) today announced that, based on preliminary and . AccessedOctober 14, 2020. The webcast, as with other selected presentations regarding developments inAmgen's business given at certain investor and medical conferences, can be accessed onAmgen's website,www.amgen.com, under Investors. Highlights from a week-long virtual event bringing Bloomberg Businessweek magazine to life. FGFR2b is a splice variant of FGFR2 which can be found in tumors of epithelial origin. Media and Investor Contact Martin Forrest VP, Investor Relations & Corporate Communications Five Prime Therapeutics, Inc. 415-365-5625 martin.forrest@fiveprime.com. Wainberg is professor of medicine at UCLA and co-director of the UCLA GI Oncology Program in Santa Monica, California. FivePrime is a clinical-stage biotechnology company that develops treatments for cancers. Our research drives us to understand the disease in the context of the patient's life not just their cancer journey so they can take control of their lives. These statements are not guarantees of future performance and they involve certain risks, uncertainties and assumptions that are difficult to predict. Nor can there be any guarantee that bemarituzumab will be submitted or approved for sale in any market, or at any particular time. How to Best Use Insider Monkey To Increase Your Returns, 13 Real Good Family Emergency Excuses to Get Out of Work Last Minute, 5 Best Tasting Cigarettes for New Smokers, Start Sleeping With Soap In Your Bed Tonight. A biotechnology pioneer since 1980, Amgen has grown to beone ofthe world'sleadingindependent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential. Release Summary. Furthermore, our research, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities. AmgenWebcast Investor CallAmgenwill host a webcast call for the investment community on Thursday, March 4, 2021, at10:30 a.m. EST. Let's check out hedge fund activity in other stocks similar to Five Prime Therapeutics Inc (NASDAQ:FPRX). pdf 18-00253-t.pdf (436.22 KB) Modified: July 21, 2022 STAY CONNECTED 1 Twitter 2 Facebook 3 RSS 4 YouTube 6 LinkedIn 8 Email Updates. Five Prime Therapeutics Inc. shares closed today at 1.1% below its 52 week high of $38.18, giving the company a market cap of $1B. Our best call in 2020 was shorting the market when the S&P 500 was trading at 3150 after realizing the coronavirus pandemics significance before most investors. Five Prime Therapeutics Revenue $13.2 M FY, 2020 Company summary Overview Five Prime Therapeutics is a biotechnology company focused on developing immuno-oncology and targeted cancer therapies. Five Prime Therapeutics, Inc. Aug 2018 - Jun 2019 11 months. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology. Transaction Terms Under the terms of the merger agreement, which was approved by the Boards of Directors of both companies, Amgen will commence a tender offer to acquire all of the outstanding shares of Five Prime's common stock for $38.00 per share in cash. Home | Prime Therapeutics Making a difference and creating real change Prime Together Foundation Joining forces for a brighter future See how we're illuminating possibilities. About AmgenAmgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. MedsYourWay helps give members the lowest price available, whether that be a copay amount or discount card price, and automatically counts towards accumulators. Additional analysis showed a positive correlation between efficacy and expression of FGFR2b on tumor cells, confirming both the importance of the FGFR2b target and the activity of bemarituzumab against this target. Our calculations also showed that FPRX isn't among the 30 most popular. April 16, 2021. I have full confidence that Amgen is the right company to work with us to bring our innovative cancer treatments to patients and toachieve our mission to rewrite cancer.". Budget & Performance; Careers; Commission Votes; Contact; Contracts; Data Resources . Additionally, bemarituzumab was associated with an increase in corneal adverse events and stomatitis, the majority of which were reversible. In April 2021, LAVA appointed biopharmaceutical finance executive, Karen Wilson, to its board of directors and as chair of its Audit . The tender offer for the outstanding shares of common stock of Five Prime described in this press release has not commenced. This correlation suggests that FGFR2b could play a role in other epithelial cancers, including lung, breast, ovarian and other cancers. For the last four decades, we have been dedicated to discovering the firsts that matter in oncology and to finding ways to reduce the burden of cancer. In particular, our expectations could be affected by, among other things: uncertainties as to the timing of the tender offer and the merger; the risk that the proposed transaction may not be completed in a timely manner or at all; uncertainties as to the percentage of Five Prime's stockholders tendering their shares in the tender offer; the possibility that competing offers or acquisition proposals for Five Prime will be made; the possibility that any or all of the various conditions to the consummation of the tender offer or the merger may not be satisfied or waived, including the failure to receive any required regulatory approvals from any applicable governmental entities (or any conditions, limitations or restrictions placed on such approvals); regulatory actions or delays or government regulation generally, including potential regulatory actions or delays relating to the completion of the potential transaction described in this release, as well as potential regulatory actions or delays with respect to the development of bemarituzumab; the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement; the effect of this announcement or pendency of the proposed transaction on Five Prime's ability to retain and hire key personnel, its ability to maintain relationships with its customers, suppliers and others with whom it does business, its business generally or its stock price; risks related to diverting management's attention from Five Prime's ongoing business operations; the risk that stockholder litigation in connection with the proposed transaction may result in significant costs of defense, indemnification and liability; the potential that the strategic benefits, synergies or opportunities expected from the proposed acquisition may not be realized or may take longer to realize than expected; the successful integration of Five Prime into Amgen subsequent to the closing of the transaction and the timing of such integration; and other risks and factors referred to from time to time in Amgen's and Five Prime's filings with the SEC, including Amgen's current Form 10-K and Five Prime's current Form 10-K on file with the SEC, including those related to the uncertainties inherent in the research and development of new healthcare products, including clinical trial results and additional analysis of existing clinical data; our ability to obtain or maintain proprietary intellectual property protection; safety, quality or manufacturing issues; changes in expected or existing competition; and global trends toward health care cost containment, including government, payor and general public pricing and reimbursement pressures. Five Prime Therapeutics, Inc., a clinical-stage biotechnology company, focuses on the discovery and development of protein therapeutics that block cancer and inflammatory disease processes. Wainberg ZA, Enzinger P, Kang YK, et al. The tender offer materials and related materials also may be obtained for free (when available) under the "Investors Financials" section of Amgen's website at https://investors.amgen.com/financials/sec-filings, and the Solicitation/Recommendation Statement and such other documents also may be obtained for free (when available) from Five Prime under the "Investors & Media Financial Information" section of Five Prime's website at https://investor.fiveprime.com/index.php/sec-filings. At the time the tender offer is commenced, Amgen and its acquisition subsidiary, Franklin Acquisition Sub, Inc. ("Purchaser"), will file, or will cause to be filed, tender offer materials on Schedule TO with the U.S. Securities and Exchange Commission (the "SEC") and Five Prime will file a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC, in each case with respect to the tender offer. Clinical Trial Diversity and Representation, Clinical Trial Transparency, Data Sharing and Disclosure Practices, Adverse Event and Product Complaint Reporting, Environmental, Social & Governance Report 2021, Environment, Social and Governance Strategy, Community Investment and Amgen Foundation, Amgen Successfully Completes Acquisition Of Five Prime Therapeutics, http://www.prnewswire.com/news-releases/amgen-successfully-completes-acquisition-of-five-prime-therapeutics-301270601.html. Our calculations showed that top 10 most popular stocks among hedge funds returned 41.4% in 2019 and outperformed the S&P 500 ETF (SPY) by 10.1 percentage points. 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