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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Gilead Sciences Inc | NASDAQ:GILD | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.54 | -0.83% | 64.79 | 64.71 | 64.82 | 65.53 | 64.33 | 65.51 | 7,822,721 | 01:00:00 |
By Michael Dabaie
Gilead Sciences Inc. (GILD) and Goldfinch Bio Inc. said Wednesday they would develop and commercialize therapeutics for diabetic kidney disease and some orphan kidney diseases.
Under the multi-year collaboration, Gilead has exclusive options to license worldwide rights to certain products directed toward targets emerging from Goldfinch's Kidney Genome Atlas, a registry of patients with kidney diseases.
Goldfinch will receive $55 million in upfront payments, including a $5 million equity investment, and an additional $54 million to support the development of the KGA platform for diabetic kidney disease. Goldfinch also is eligible for up to $1.95 billion in potential payments for the first five collaboration programs based on research, development, regulatory and commercial milestones, and tiered royalties.
Gilead shares were down about 1% premarket.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
May 08, 2019 08:13 ET (12:13 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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