Eleven Biotherapeutics Inc. more than doubled in value in early trading on June 13 before closing up 27.8% at $2.39 per share after the company said it licensed EBI-031, its lead development program, to Roche – a move that could signal Eleven's intention to wind down the eye disease-focused company.
Does Deal With Roche Signal Eleven's Doomed Fate?
Eleven Biotherapeutics Inc. more than doubled in value in early trading on June 13 before closing up 27.8% at $2.39 per share after the company said it licensed EBI-031, its lead development program, to Roche – a move that could signal Eleven's intention to wind down the eye disease-focused company.
More from Business
• By
As drugmakers update investors on first quarter financial performance, uncertainty around global trade and US regulatory oversight is likely to dominate discussions.
• By
Faced with Trump’s hostile tariff moves, the UK aims to speed up clinical trial start times to support its pharma sector and invest £600m in a new health data research service.
• By
The biotech has rejected a takeover bid from Nordic Capital but a sale to private equity could be a solution to the public market's continued reluctance to adequately value PureTech’s hub-and-spoke business model.
• By
There were six biopharma initial public offerings on Western stock exchanges, including five in the US, during the first quarter, but plunging stock values could halt further IPOs.
More from Scrip
Recent moves in the industry include C-suite changes at 23andMe, Biomea Fusion & Alector, plus Bicycle Therapeutics acquires chief medical officer from ImmunoGen.
• By
Menarini's Asia-Pacific CEO talks to Scrip about how the Italian group is tailoring its portfolio and pricing approach to local markets making strong strides in primary care and consumer health, while also charting a distinct path in rare diseases and oncology. The China market is also a key focus including as a potential source of innovation as is partnering, where the group has a rich history.
• By
Analysts expect a limited impact on South Korean pharma from US tariffs, even if imposed at a later date. Meanwhile, the early June domestic presidential election is set to determine the direction of policies in the sector.