Sierra Oncology and Gilead Sciences Agree on Amendments to Asset Purchase Agreement for Momelotinib
Sierra Oncology, Inc. (SRRA)
Last sierra oncology, inc. earnings: 3/3 07:00 am
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Source: PR Newswire
- Gilead to reduce momelotinib commercial royalty rates in exchange for equity in Sierra -- Amendments become effective upon Sierra Oncology closing a qualified financing - VANCOUVER, Nov. 7, 2019 /PRNewswire/ - Sierra Oncology, Inc. (Nasdaq: SRRA), a late-stage drug development company focused on the development and commercialization of momelotinib, a JAK1, JAK2 & ACVR1 inhibitor with a potentially differentiated therapeutic profile for the treatment of myelofibrosis, today announced that it has agreed to amend its Asset Purchase Agreement with Gilead Sciences, Inc. for momelotinib upon Sierra closing a qualified financing."These are significant amendments that meaningfully enhance the potential long-term value of momelotinib for Sierra and its stockholders. The amendments also affirm Gilead's support for the continued development of momelotinib with the goal of bringing meaningful benefit to patients with myelofibrosis," said Dr. Nick Glover, President and CEO of Sierra Oncology. "
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