Latest news with #BruceCozadd
Yahoo
20-05-2025
- Business
- Yahoo
JAZZ Q1 Earnings Call: Revenue and Profit Miss, Product Pipeline Drives Outlook
Biopharma company Jazz Pharmaceuticals (NASDAQ:JAZZ) fell short of the market's revenue expectations in Q1 CY2025, with sales flat year on year at $897.8 million. On the other hand, the company's outlook for the full year was close to analysts' estimates with revenue guided to $4.28 billion at the midpoint. Its non-GAAP profit of $1.68 per share was 63.9% below analysts' consensus estimates. Is now the time to buy JAZZ? Find out in our full research report (it's free). Revenue: $897.8 million vs analyst estimates of $986.6 million (flat year on year, 9% miss) Adjusted EPS: $1.68 vs analyst expectations of $4.66 (63.9% miss) Adjusted EBITDA: $206.5 million vs analyst estimates of $399.6 million (23% margin, 48.3% miss) The company reconfirmed its revenue guidance for the full year of $4.28 billion at the midpoint Management lowered its full-year Adjusted EPS guidance to $4.80 at the midpoint, a 79.4% decrease Operating Margin: -6.2%, down from 7.3% in the same quarter last year Free Cash Flow Margin: 46.3%, up from 28.9% in the same quarter last year Market Capitalization: $6.72 billion Jazz Pharmaceuticals' first quarter results reflected a flat revenue performance and significant shortfall on non-GAAP earnings relative to Wall Street expectations. Management attributed this outcome primarily to strong demand in the neuroscience portfolio, particularly Xywav and Epidiolex, which offset near-term headwinds in oncology products such as Rylaze and Zepzelca. CEO Bruce Cozadd highlighted execution on commercial efforts, stating the company remains 'confident in the blockbuster potential' of Epidiolex and is seeing 'continued momentum' for Xywav, especially in idiopathic hypersomnia. For the remainder of the year, management's guidance is anchored by anticipated regulatory milestones and commercial launches in oncology. The company's strategy includes leveraging recent acquisitions, such as Chimerix, to expand its rare oncology presence and prepare for upcoming product launches like Dordaviprone. Management also addressed ongoing litigation settlements and tariff risks, noting that inventory planning and flexible manufacturing are expected to minimize impacts for 2025. Jazz Pharmaceuticals' Q1 performance was shaped by mixed trends across its portfolio, with neuroscience products showing growth and oncology products experiencing headwinds. Several strategic actions—including a major acquisition and regulatory filings—also influenced the quarter's results and future positioning. Neuroscience Portfolio Growth: Xywav and Epidiolex led revenue growth, with Xywav patient additions driven by targeted disease education campaigns and Epidiolex benefiting from expanded use in adult and long-term care settings. Management emphasized Xywav's status as the only FDA-approved therapy for idiopathic hypersomnia, supporting market expansion. Oncology Pressure and Pipeline: The oncology portfolio saw declines, primarily due to protocol changes affecting Rylaze and competitive dynamics for Zepzelca. Management expects normalization of Rylaze revenue and highlighted upcoming data presentations for Zepzelca's first-line use, which could shift its growth trajectory if included in treatment guidelines. Chimerix Acquisition and Dordaviprone Launch: The acquisition of Chimerix added Dordaviprone, a therapy for rare brain tumors, to the pipeline. Management described Dordaviprone as a "meaningful and durable revenue opportunity" due to its potential frontline use and patent protection into 2037. Supply Chain and Tariff Preparedness: Jazz outlined its extensive manufacturing footprint in the U.S. and Europe, noting that diversified supply and inventory management should mitigate the impact of enacted and potential tariffs for the rest of the year. Strategic R&D Progress: Multiple regulatory milestones are on the horizon, including FDA and European reviews for new oncology indications. Upcoming data from pivotal trials in HER2-positive cancers and the anticipated launch of Dordaviprone are expected to be key product catalysts. Looking ahead, Jazz's guidance relies on continued neuroscience portfolio growth and the successful advancement of its oncology pipeline, while also navigating cost pressures and regulatory developments. Oncology Regulatory Milestones: Management believes that data readouts and regulatory decisions for products like Dordaviprone and zanidatamab will be critical to expanding the oncology business and supporting revenue growth. Neuroscience Market Expansion: The company expects further demand for Xywav, especially in idiopathic hypersomnia, to drive patient growth, while Epidiolex is positioned to achieve blockbuster status through expanded indications and access initiatives. Tariff and Litigation Risks: While management downplayed tariff impacts for 2025 due to inventory and manufacturing flexibility, future regulatory changes or litigation expenses remain uncertainties that could affect margins and adjusted earnings. Jason Gerberry (Bank of America): Asked about Xywav's supply chain resilience if tariffs escalate, with management confirming U.S. manufacturing capacity can supply the domestic market and minimize tariff risk. Jessica Fye (JP Morgan): Inquired about Jazz's overall manufacturing footprint and contingency plans for biopharma tariffs, with management highlighting geographic diversification and a strategy of building U.S. inventory. David Amsellem (Piper Sandler): Questioned the long-term outlook for Zepzelca in the face of new competition, with executives citing upcoming first-line data as potentially expanding its patient base and duration of therapy. Annabel Samimy (Stifel): Sought updates on Rylaze's adoption in adolescent and young adult segments, with management acknowledging slow but steady momentum and confidence in normalization by next quarter. Joseph Thome (TD Cowen): Asked about Dordaviprone's Phase III trial status and regulatory review, with Jazz noting ongoing enrollment outside the U.S. and no current issues with the FDA review timeline. In the coming quarters, the StockStory team will watch for (1) pivotal data releases for zanidatamab in HER2-positive gastroesophageal cancer, (2) the FDA's decision on Dordaviprone and progress in its confirmatory frontline trial, and (3) signs of sustained growth in Xywav and Epidiolex patient populations. Successful integration of Chimerix and the impact of evolving tariff policies will also be important to monitor as the year progresses. Jazz Pharmaceuticals currently trades at a forward P/E ratio of 4.7×. Should you load up, cash out, or stay put? See for yourself in our free research report. Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today. 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Yahoo
07-05-2025
- Business
- Yahoo
Jazz Pharmaceuticals (NASDAQ:JAZZ) Misses Q1 Sales Targets
Long-term growth is the most important, but within healthcare, a half-decade historical view may miss new innovations or demand cycles. Jazz Pharmaceuticals's recent performance shows its demand has slowed as its annualized revenue growth of 4.3% over the last two years was below its five-year trend. A company's long-term sales performance is one signal of its overall quality. Even a bad business can shine for one or two quarters, but a top-tier one grows for years. Luckily, Jazz Pharmaceuticals's sales grew at a solid 13.2% compounded annual growth rate over the last five years. Its growth beat the average healthcare company and shows its offerings resonate with customers. Originally founded in 2003 and now headquartered in Ireland following a 2012 tax inversion merger, Jazz Pharmaceuticals (NASDAQGS:JAZZ) develops and markets medicines for sleep disorders, epilepsy, and cancer, with a focus on treatments for patients with limited therapeutic options. "In the first quarter of 2025, our focus on commercial execution resulted in total revenues of $898 million, led by the strong performance of Xywav and Epidiolex. In addition, our team continues to receive positive feedback from healthcare providers on the launch of Ziihera® in its first approved indication of 2L HER2+ BTC. We are affirming our 2025 total revenue guidance range of $4.15 - $4.40 billion, reflecting our confidence in our commercial portfolio delivering top-line growth this year," said Bruce Cozadd, chairman and chief executive officer, Jazz Pharmaceuticals. Operating Margin: -6.2%, down from 7.3% in the same quarter last year The company reconfirmed its revenue guidance for the full year of $4.28 billion at the midpoint Is now the time to buy Jazz Pharmaceuticals? Find out in our full research report . Biopharma company Jazz Pharmaceuticals (NASDAQ:JAZZ) fell short of the market's revenue expectations in Q1 CY2025, with sales flat year on year at $897.8 million. On the other hand, the company's outlook for the full year was close to analysts' estimates with revenue guided to $4.28 billion at the midpoint. Its non-GAAP profit of $1.68 per share was 63.9% below analysts' consensus estimates. Story Continues Jazz Pharmaceuticals Year-On-Year Revenue Growth This quarter, Jazz Pharmaceuticals missed Wall Street's estimates and reported a rather uninspiring 0.5% year-on-year revenue decline, generating $897.8 million of revenue. Looking ahead, sell-side analysts expect revenue to grow 6.4% over the next 12 months, an improvement versus the last two years. This projection is above average for the sector and implies its newer products and services will spur better top-line performance. Software is eating the world and there is virtually no industry left that has been untouched by it. That drives increasing demand for tools helping software developers do their jobs, whether it be monitoring critical cloud infrastructure, integrating audio and video functionality, or ensuring smooth content streaming. Click here to access a free report on our 3 favorite stocks to play this generational megatrend. Operating Margin Operating margin is an important measure of profitability as it shows the portion of revenue left after accounting for all core expenses – everything from the cost of goods sold to advertising and wages. It's also useful for comparing profitability across companies with different levels of debt and tax rates because it excludes interest and taxes. Jazz Pharmaceuticals has done a decent job managing its cost base over the last five years. The company has produced an average operating margin of 11%, higher than the broader healthcare sector. Analyzing the trend in its profitability, Jazz Pharmaceuticals's operating margin decreased by 15.3 percentage points over the last five years, but it rose by 15.3 percentage points on a two-year basis. Still, shareholders will want to see Jazz Pharmaceuticals become more profitable in the future. Jazz Pharmaceuticals Trailing 12-Month Operating Margin (GAAP) This quarter, Jazz Pharmaceuticals generated an operating profit margin of negative 6.2%, down 13.6 percentage points year on year. This contraction shows it was less efficient because its expenses increased relative to its revenue. Earnings Per Share We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company's growth is profitable. Jazz Pharmaceuticals's EPS grew at a remarkable 9.2% compounded annual growth rate over the last five years. However, this performance was lower than its 13.2% annualized revenue growth, telling us the company became less profitable on a per-share basis as it expanded. Jazz Pharmaceuticals Trailing 12-Month EPS (Non-GAAP) We can take a deeper look into Jazz Pharmaceuticals's earnings to better understand the drivers of its performance. As we mentioned earlier, Jazz Pharmaceuticals's operating margin declined by 15.3 percentage points over the last five years. Its share count also grew by 9%, meaning the company not only became less efficient with its operating expenses but also diluted its shareholders. Jazz Pharmaceuticals Diluted Shares Outstanding In Q1, Jazz Pharmaceuticals reported EPS at $1.68, down from $2.68 in the same quarter last year. This print missed analysts' estimates, but we care more about long-term EPS growth than short-term movements. Over the next 12 months, Wall Street expects Jazz Pharmaceuticals's full-year EPS of $20.19 to grow 15.8%. Key Takeaways from Jazz Pharmaceuticals's Q1 Results We struggled to find many positives in these results as it lowered its full-year EPS guidance and missed on revenue and EPS. Overall, this quarter could have been better. The stock traded down 3.2% to $107.50 immediately following the results. Jazz Pharmaceuticals didn't show it's best hand this quarter, but does that create an opportunity to buy the stock right now? The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here, it's free.
Yahoo
02-05-2025
- Business
- Yahoo
Acelyrin urges stockholders to vote for proposed merger with Alumis
ACELYRIN (SLRN) reiterated its confidence that the proposed combination with Alumis (ALMS) is the best path forward and the most value-maximizing outcome for all ACELYRIN stockholders. Bruce Cozadd, Chair of the ACELYRIN Board of Directors and member of the independent transaction committee, said, 'The ACELYRIN Board and management team are confident that the proposed merger with Alumis represents the most value-maximizing path forward for our company's stockholders. The agreement with Alumis follows a comprehensive and competitive process facilitated by the ACELYRIN Board. Furthermore, it reflects successful efforts by our Board to negotiate a revised agreement with a meaningful increase in ACELYRIN stockholders' ownership in the combined company. With the Special Meeting just weeks away, we urge ACELYRIN stockholders to vote FOR the proposed merger with Alumis to protect the value of your investment.' The ACELYRIN Board's disinterested and independent directors unanimously recommend that stockholders vote 'FOR' the merger with Alumis. . Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on SLRN: Disclaimer & DisclosureReport an Issue ACELYRIN, INC. Amends Merger Agreement with Alumis Alumis and Acelyrin sign ammended merger agreement SLRN Earnings this Week: How Will it Perform? Acelyrin adopts limited-duration stockholder rights plan Acelyrin says Concentra indication not expected to result in superior proposal
Associated Press
21-04-2025
- Business
- Associated Press
Alumis and ACELYRIN Announce Amended Merger Agreement
ACELYRIN stockholders to receive increased ownership in the combined company through revised exchange ratio; Alumis and ACELYRIN stockholders to now own approximately 52% and 48%, respectively, of the combined company on a fully diluted basis Merger maximizes the potential value for ACELYRIN stockholders and creates a stronger combined company, best-positioned to realize long-term value of multiple late-stage assets ACELYRIN files investor presentation highlighting benefits of proposed merger and comprehensive Board process Special Meeting of Stockholders for both companies to be held May 13, 2025 SOUTH SAN FRANCISCO, Calif. and LOS ANGELES, April 21, 2025 (GLOBE NEWSWIRE) -- Alumis Inc. (Nasdaq: ALMS), a clinical-stage biopharmaceutical company developing therapies using a precision approach to optimize clinical outcomes and significantly improve the lives of patients with immune-mediated diseases, and ACELYRIN, INC. (Nasdaq: SLRN), a late-stage clinical biopharma company focused on accelerating the development and delivery of transformative medicines in immunology, today announced an amendment to the existing terms of their previously announced merger agreement. Under the terms of the amended agreement, ACELYRIN stockholders will now receive 0.4814 shares of Alumis common stock for each share of ACELYRIN common stock owned, representing a meaningful increase in the ownership percentage of the combined company over the original definitive merger agreement. With the amended exchange ratio, Alumis stockholders will own approximately 52% of the combined company and ACELYRIN stockholders will own approximately 48% on a fully diluted basis. Martin Babler, President, Chief Executive Officer and Chairman of Alumis, said, 'In recognition of the current market conditions and evolving investor expectations for a successful combination, we have revised the terms of our agreement with ACELYRIN, enabling enhanced value creation opportunities for our respective stockholders. This was carefully considered by our Board of Directors and we continue to firmly believe in the merits of the transaction. This merger provides Alumis the best opportunity to significantly enhance our financial flexibility and runway to advance an expanded late-stage pipeline with multiple near-term development milestones and build commercial capabilities to maximize the value of our portfolio for patients and stockholders. We will continue to work closely with ACELYRIN to successfully complete the transaction and deliver on its significant benefits.' Bruce Cozadd, Chair of the ACELYRIN Board of Directors and member of the Board Transaction Committee, said, 'Since announcing the merger, we have had extensive conversations with our stockholders who have expressed an understanding of the strategic rationale for this transaction, while also sharing their perspectives on the value provided to ACELYRIN stockholders. This amended agreement reflects this dialogue with stockholders and meaningfully builds upon the previously announced agreement, which was the result of a rigorous, objective, and competitive process facilitated by the ACELYRIN Board. Because of the Board's continued efforts, our stockholders now stand to benefit from a greater interest in Alumis' long-term upside potential. We continue to believe that this combination is the most value-maximizing path forward for ACELYRIN stockholders and that Alumis is the right partner to optimize development of lonigutamab.' ACELYRIN also filed today an investor presentation with the U.S. Securities and Exchange Commission ('SEC') highlighting additional details and benefits of the amended merger agreement, including: The presentation is available on ACLEYRIN's investor relations website at Additional Details The amended merger agreement was unanimously recommended and approved by the disinterested directors of each company's Board. As previously announced, Stockholders representing approximately 62% of Alumis voting common stock and approximately 24% of ACELYRIN common stock have entered into voting agreements in support of the transaction. Alumis and ACELYRIN intend to file supplemental proxy materials with the Securities and Exchange Commission promptly. The companies continue to expect to close the transaction during the second quarter of 2025, subject to the approval by both companies' stockholders and satisfaction of other customary closing conditions. As previously disclosed, Alumis and ACELYRIN will hold its respective Special Meeting of Stockholders on May 13, 2025, and stockholders of record as of the close of business on April 1, 2025, are entitled to vote at the Special Meetings. Advisors Morgan Stanley & Co. LLC is serving as financial advisor to Alumis, and Cooley LLP is serving as its legal counsel. Guggenheim Securities, LLC is serving as financial advisor to ACELYRIN and Fenwick & West LLP and Paul Hastings LLP are serving as legal counsel. About Alumis Alumis is a clinical-stage biopharmaceutical company developing oral therapies using a precision approach to optimize clinical outcomes and significantly improve the lives of patients with immune-mediated diseases. Leveraging its proprietary precision data analytics platform, Alumis is building a pipeline of molecules with the potential to address a broad range of immune-mediated diseases as monotherapy or combination therapies. Alumis' most advanced product candidate, ESK-001, is an oral, highly selective, small molecule, allosteric inhibitor of tyrosine kinase 2 that is currently being evaluated for the treatment of patients with moderate-to-severe plaque psoriasis and systemic lupus erythematosus. Alumis is also developing A-005, a CNS-penetrant, allosteric TYK2 inhibitor for the treatment of neuroinflammatory and neurodegenerative diseases. Beyond TYK2, Alumis' proprietary precision data analytics platform and drug discovery expertise have led to the identification of additional preclinical programs that exemplify its precision approach. Incubated by Foresite Labs and led by a team of industry veterans experienced in small-molecule compound drug development for immune-mediated diseases, Alumis is pioneering a precision approach to drug development to potentially produce the next generation of treatment to address immune dysfunction. About ACELYRIN ACELYRIN, INC. (Nasdaq: SLRN) is focused on providing patients life-changing new treatment options by identifying, acquiring, and accelerating the development and commercialization of transformative medicines. ACELYRIN's lead program, lonigutamab, is a subcutaneously delivered monoclonal antibody targeting IGF-1R being investigated for the treatment of thyroid eye disease. Forward-Looking Statements This communication contains forward-looking statements within the meaning of federal securities laws, including the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon current plans, estimates and expectations of management of Alumis Inc. ('Alumis') and ACELYRIN, Inc. ('ACELYRIN') in light of historical results and trends, current conditions and potential future developments, and are subject to various risks and uncertainties that could cause actual results to differ materially from such statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Words such as 'anticipate,' 'expect,' 'project,' 'intend,' 'believe,' 'may,' 'will,' 'should,' 'plan,' 'could,' 'continue,' 'target,' 'contemplate,' 'estimate,' 'forecast,' 'guidance,' 'predict,' 'possible,' 'potential,' 'pursue,' 'likely,' and words and terms of similar substance used in connection with any discussion of future plans, actions or events identify forward-looking statements. All statements, other than statements of historical facts, including express or implied statements regarding the proposed transaction; the conversion of equity interests contemplated by the agreement and plan of merger, dated as of February 6, 2025, as amended on April 20, 2025, by and among the parties (as amended, the 'merger agreement'); the issuance of common stock of Alumis contemplated by the merger agreement; the expected filing by Alumis with the Securities and Exchanges Commission (the 'SEC') of a registration statement on Form S-4 (the 'registration statement') and a joint proxy statement/prospectus of Alumis and ACELYRIN to be included therein (the 'joint proxy statement/prospectus'); the expected timing of the closing of the proposed transaction; the ability of the parties to complete the proposed transaction considering the various closing conditions; the expected benefits of the proposed transaction; the sufficiency of the combined company's capital resources; the combined company's cash runway, which is preliminary, unaudited and subject to change; the competitive ability and position of the combined company; the clinical pipeline of the combined company; and any assumptions underlying any of the foregoing, are forward-looking statements. Risks and uncertainties include, among other things, (i) the risk that the proposed transaction may not be completed in a timely basis or at all, which may adversely affect Alumis' and ACELYRIN's businesses and the price of their respective securities; (ii) the potential failure to receive, on a timely basis or otherwise, the required approvals of the proposed transaction, including stockholder approvals by both Alumis' stockholders and ACELYRIN'S stockholders, and the potential failure to satisfy the other conditions to the consummation of the transaction; (iii) the effect of the announcement, pendency or completion of the proposed transaction on each of Alumis' or ACELYRIN's ability to attract, motivate, retain and hire key personnel and maintain relationships with partners, suppliers and others with whom Alumis or ACELYRIN does business, or on Alumis' or ACELYRIN's operating results and business generally; (iv) that the proposed transaction may divert management's attention from each of Alumis' and ACELYRIN's ongoing business operations; (v) the risk of any legal proceedings related to the proposed transaction or otherwise, or the impact of the proposed transaction thereupon, including resulting expense or delay; (vi) that Alumis or ACELYRIN may be adversely affected by other economic, business and/or competitive factors; (vii) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, including in circumstances which would require Alumis or ACELYRIN to pay a termination fee; (viii) the risk that restrictions during the pendency of the proposed transaction may impact Alumis' or ACELYRIN's ability to pursue certain business opportunities or strategic transactions; (ix) the risk that the anticipated benefits and synergies of the proposed transaction may not be fully realized or may take longer to realize than expected; (x) the impact of legislative, regulatory, economic, competitive and technological changes; (xi) risks relating to the value of Alumis securities to be issued in the proposed transaction; (xii) the risk that integration of the proposed transaction post-closing may not occur as anticipated or the combined company may not be able to achieve the growth prospects expected from the transaction; (xiii) the effect of the announcement, pendency or completion of the proposed transaction on the market price of the common stock of each of Alumis and ACELYRIN; (xiv) the implementation of each of Alumis' and ACELYRIN's business model and strategic plans for product candidates and pipeline, and challenges inherent in developing, commercializing, manufacturing, launching, marketing and selling potential existing and new products and product candidates; (xv) the scope, progress, results and costs of developing Alumis' and ACELYRIN's product candidates and any future product candidates, including conducting preclinical studies and clinical trials, and otherwise related to the research and development of Alumis' and ACELYRIN's pipeline; (xvi) the timing and costs involved in obtaining and maintaining regulatory approval for Alumis' and ACELYRIN's current or future product candidates, and any related restrictions, limitations and/or warnings in the label of any approved product; (xvii) the market for, adoption (including rate and degree of market acceptance) and pricing and reimbursement of Alumis' and ACELYRIN's product candidates, if approved, and their respective abilities to compete with therapies and procedures that are rapidly growing and evolving; (xviii) uncertainties in contractual relationships, including collaborations, partnerships, licensing or other arrangements and the performance of third-party suppliers and manufacturers; (xix) the ability of each of Alumis and ACELYRIN to establish and maintain intellectual property protection for products or avoid or defend claims of infringement; (xx) Alumis' ability to successfully integrate ACELYRIN's operations and personnel; and (xxi) potential delays in initiating, enrolling or completing preclinical studies and clinical trials. These risks, as well as other risks related to the proposed transaction, will be described in the registration statement and the joint proxy statement/prospectus that will be filed with the SEC in connection with the proposed transaction. While the list of factors presented here and the list of factors to be presented in the registration statement are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. For additional information about other factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to Alumis' and ACELYRIN's respective periodic reports and other filings with the SEC, including the risk factors identified in Alumis' and ACELYRIN's most recent Annual Reports on Form 10-K. The risks and uncertainties described above and in the SEC filings cited above are not exclusive and further information concerning Alumis and ACELYRIN and their respective businesses, including factors that potentially could materially affect their respective businesses, financial conditions or operating results, may emerge from time to time. Readers are urged to consider these factors carefully in evaluating these forward-looking statements, and not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. Readers should also carefully review the risk factors described in other documents Alumis and ACELYRIN file from time to time with the SEC. The forward-looking statements included in this communication are made only as of the date hereof. Alumis assumes no obligation and does not intend to update these forward-looking statements, even if new information becomes available in the future, except as required by law. Additional Information and Where to Find It In connection with the proposed merger, Alumis intends to file with the SEC the registration statement, which will include the joint proxy statement/prospectus. After the registration statement has been declared effective by the SEC, the joint proxy statement/prospectus will be delivered to stockholders of Alumis and ACELYRIN. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, SECURITY HOLDERS OF ALUMIS AND ACELYRIN ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND OTHER DOCUMENTS RELATING TO THE MERGER THAT WILL BE FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. Investors and security holders will be able to obtain copies of the joint proxy statement/prospectus (when available) and other documents filed by Alumis and ACELYRIN with the SEC, without charge, through the website maintained by the SEC at Copies of the documents filed with the SEC by Alumis will be available free of charge under the SEC Filings heading of the Investor Relations section of Alumis' website at Copies of the documents filed with the SEC by ACELYRIN will be available free of charge under the Financials & Filings heading of the Investor Relations section of ACELYRIN's website at Participants in the Solicitation Alumis and ACELYRIN and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information about Alumis' directors and executive officers is set forth in the registration statement, which includes the joint proxy statement/prospectus. Information about ACELYRIN's directors and executive officers is set forth in ACELYRIN's Annual Report on Form 10-K, which was filed with the SEC on March 19, 2025. Stockholders may obtain additional information regarding the interests of such participants by reading the registration statement and the joint proxy statement/prospectus and other relevant materials filed with the SEC regarding the proposed merger when they become available. Investors should read the joint proxy statement/prospectus carefully before making any voting or investment decisions. No Offer or Solicitation This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Alumis Contacts Investor Relations Teri Dahlman Red House Communications [email protected] Or MacKenzie Partners, Inc. [email protected] (800) 322-2885 Media Jim Golden / Jack Kelleher / Tali Epstein Collected Strategies [email protected] ACELYRIN, INC Contacts Investor Relations and Media Tyler Marciniak Vice President of Investor Relations and Corporate Operations [email protected] or Sodali & Co [email protected] (800) 662-5200
Yahoo
07-03-2025
- Business
- Yahoo
Jazz Pharmaceuticals bids for Chimerix in $935m deal
Jazz Pharmaceuticals has announced a definitive agreement to acquire Chimerix, a US-based biotech firm, for approximately $935m in cash. The deal, disclosed on Wednesday 5 March, will see Jazz pay $8.55 per share, representing a 72.4% premium to Chimerix's 4 March closing price of $4.96. Both companies have approved the transaction, which is expected to close in Q2 2025. Chimerix's shares were up 69% when the markets opened, approaching Jazz's offer price. The acquisition will give Jazz access to Chimerix's lead investigational candidate dordaviprone, which is under review by the US Food and Drug Administration (FDA) for the treatment of recurrent H3 K27M-mutant diffuse glioma, a rare and aggressive brain tumour that primarily affects children and young adults. Currently, there are no FDA-approved therapies for this condition, and patients typically face a poor prognosis with limited treatment options beyond radiotherapy and palliative care. The FDA is expected to issue a decision on dordaviprone by 18 August 2025. The drug is also being evaluated in the Phase III ACTION trial (NCT05580562), which has enrolled newly diagnosed patients with non-recurrent H3 K27M-mutant diffuse glioma following radiation treatment. If the trial proves successful, dordaviprone could be used as a front-line therapy. Dordaviprone is designed to activate stress responses in cancer cells, pushing them into apoptosis by acting on the mitochondrial protease ClpP and dopamine receptor D2 (DRD2). According to GlobalData's Pharma Intelligence Center, dordaviprone is forecast to generate up to $385m in global sales by 2030. GlobalData is the parent company of Pharmaceutical Technology. The acquisition of Chimerix follows Jazz's November 2024 FDA approval of Ziihera (zanidatamab), a HER2-directed bispecific antibody for biliary tract cancer. Jazz has also been developing Ziihera for HER2-positive breast and gastric cancers. In 2021, the company acquired GW Pharmaceuticals for $7.2bn, gaining the seizure medication Epidiolex (cannabidiol). In February 2024, it licensed a KRAS inhibitor programme from UK-based Redx Pharma in a deal worth up to $880m. Chimerix originally acquired dordaviprone in 2021 through its purchase of Oncoceutics, in a deal that could be worth over $400m if all milestones are met. If ONC201 receives FDA approval, Chimerix could be eligible for a priority review voucher, a programme designed to incentivise drug development for rare paediatric diseases. In the announcement accompanying the deal, Jazz stated that dordaviprone has patent protection extending to 2037. 'If approved, dordaviprone has the potential to rapidly become a standard of care for a rare oncology disease and also contribute durable revenue beginning in the near-term,' added Jazz's CEO Bruce Cozadd. The acquisition follows a broader trend of significant M&A activity in the pharmaceutical sector since the start of 2025, with major deals from companies such as Johnson & Johnson, Eli Lilly, and GSK, each valued at over $1bn. "Jazz Pharmaceuticals bids for Chimerix in $935m deal" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
