Gilead adds to oncology, inflammation portfolio with XinThera acquisition
Michael Vi
- Gilead Sciences (NASDAQ:GILD) has acquired privately held XinThera giving the large biotech a portfolio of preclinical candiates for oncology and inflammatory diseases.
- The deal is an all-stock transaction. Financial terms were not revealed.
- Gilead (GILD) said the transaction would likely negatively impact its 2023 GAAP and non-GAAP EPS by $0.12 - $0.15.
- XinThera has three candidates in the IND-enabling stage, all targeting PARP1. It also has two candidates in the IND-enabling stage targeting MK2.