Gilead Sciences [NASDAQ: GILD] To Acquire Tizona Therapeutics For $300 Million

Gilead Sciences, Inc. [NASDAQ: GILD] disclosed today it has acquired 49.9% equity interest in Tizona Therapeutics, Inc. for $300 million. Tizona Therapeutics, Inc. is a privately held firm engaged in the making of first-in-class immunotherapies.

Gilead Sciences also has the option to acquire the remaining shares of Tizona in an additional $1.25 billion, including an option exercise fee and future milestone payments. Gilead Sciences has the opportunity to buy the remainder of Tizona before or following the readout of Phase 1b study of Tizona’s investigational antibody, TTX-080.

Investigational antibody TTX-080 discovered by Tizona is a first-in-class drug that targets HLA-G. US Food and Drug Authority has given the all-clear for the application of TTX-080. Tizona is planning to start the phase 1 clinical trial to check TTX-080 both as monotherapy and in combination with other agents in patients with advanced cancers.

Shares of Gilead Sciences have exhibited a change of 0.67% during the trading of Tuesday. It has a day low and high range of $77.20-$77.89, respectively. GILD has a closing price of $77.56 and has opened at $77.46. In the past 52-weeks of trading, this company’s stocks have changed between the low of $60.89 and a high of $85.97.

If we turn our focus on profitability, it has a return on assets of 8.10%, its return on equity is 22.60% and return on investment is 9.50%. This company’s gross margin is 79.40%, the profit margin is 21.80% and an operating margin is 19.60%.