|Bid||59.05 x 1400|
|Ask||59.24 x 800|
|Day's Range||59.20 - 59.34|
|52 Week Range||17.95 - 59.48|
|Beta (3Y Monthly)||1.78|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 7, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||56.58|
Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm headquartered at the Empire State Building in New York City, is investigating Audentes Therapeutics, Inc. ("Audentes" or the "Company") (Nasdaq: BOLD) relating to the sale of the Company to Astellas Pharma Inc. Under the terms of the Agreement, Audentes shareholders will have the right to receive $60.00 in cash for each Audentes common stock owned.
The 700+ hedge funds and famous money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the third quarter, which unveil their equity positions as of September 30. We went through these filings, fixed typos and other more significant errors and identified the changes in hedge fund portfolios. Our extensive […]
Moody's Japan K.K. has placed Astellas Pharma Inc.'s A1 issuer ratings under review for downgrade. The rating action follows Astellas' announcement on 3 December 2019 that it had entered into a definitive agreement to acquire the entire stock of Audentes Therapeutics, Inc. for approximately USD3 billion. "This acquisition indicates an urgency for Astellas to feed its long term product pipeline after a wave of patent expiries this year, and signals a rise in acquisition event risk," says Akifumi Fukushi, a Moody's Vice President and Senior Analyst.
Companies with gene therapy capabilities are becoming more attractive to members of Big Pharma, who are eager to add the technology to their portfolios Continue reading...
Gene therapy continues to draw attention with the recent spate of deals and acquisitions. We list four stocks with promising candidates in their pipelines that make attractive acquisition targets.
NEW YORK, NY / ACCESSWIRE / December 4, 2019 / The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Audentes Therapeutics, Inc. ("Audentes" ...
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks hitting 52-week highs on Dec. 3) Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY ) Antares ...
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Audentes Therapeutics, Inc. ("Audentes" or the "Company") (NASDAQ: BOLD) in connection with the proposed acquisition of the Company by Astellas Pharma Inc. ("Astellas Pharma") (OTC:ALPMY). Under the terms of the acquisition agreement, BOLD shareholders will receive $60.00 per share in cash.
Shares of Audentes Therapeutics rocketed more than 100% Tuesday on news Japanese pharmaceutical company Astellas Pharma will acquire the gene therapy biotech company for $3 billion.
(Bloomberg) -- Biotech’s second year of red-hot takeovers is set for a strong finish as Astellas Pharma Inc.’s move to buy Audentes Therapeutics Inc. for about $3 billion comes a week after Novartis AG’s $6.8 billion deal for Medicines Co.The deals continue a trend of mega mergers that was triggered in January with Bristol-Myers Squibb Co.’s $74 billion purchase of Celgene Corp. in the biggest ever biotech deal. The sector’s more than $130 billion in M&A so far this year is on track to meet or maybe surpass the previous year’s record, according data compiled by Bloomberg.“We clearly underestimated big pharma’s appetite for gene therapy,” wrote Citi analyst Mohit Bansal in a research note to clients. Given recent deals there appears “to be a demand for late-stage gene therapy companies, and big pharma is willing to pay high premium for such companies.”With the optimism, the Nasdaq Biotech Index rose 0.5% on Tuesday as the broader market churned. An equal-weighted ETF tracked by specialists, the SPDR S&P Biotech ETF (XBI), gained 1.3%.As investors hunt for the next takeout darling, several analysts across Wall Street have pitched companies with attractive technologies and manufacturing capabilities.UniQure NV, an Amsterdam-based gene therapy company, topped the list of recommendations with shares jumping more than 16%. In June, Bloomberg News had reported the drugmaker was said to be exploring its options, including a potential sale.“As a knee-jerk reaction, we would expect to see gene therapy companies trade up in sympathy tomorrow,” wrote SVB Leerink’s Joseph Schwartz.Schwartz highlighted UniQure as well as companies Solid Biosciences Inc., Sarepta Therapeutics Inc., and BioMarin Pharmaceutical Inc. as likely beneficiaries.Astellas’ lack of a gene therapy footprint should allow an easy approval from global regulators, according to analysts. That stands in contrast to Roche Holding AG’s delayed $4.8 billion deal to buy small-cap drug developer Spark THerapeutics Inc., which spooked some on Wall Street.However, SVB Leerink anlayst Mani Foroohar wrote that Monday’s deal announcement “could signal a return to gene therapy M&A” and return some “acquisition optionality” to stocks within his coverage.Here’s a look at what some on Wall Street are saying about the deals and which peers may benefit:Citi, Mohit Bansal“We think a company like BMRN in our coverage could fit the bill. BRMN has a filing-ready hemophilia A product.”“Overall, we expect gene therapy stocks to trade up on this deal.”SVB Leerink, Joseph Schwartz and Mani Foroohar“We remain positive on gene therapy companies -- particularly those with internal manufacturing capabilities -- and subsequent M&A activity in the gene therapy space would not be surprising to us.”“In particular, we expect QURE, SLDB, and SRPT to trade higher given the significant weight of gene therapy assets in these companies; the magnitude of upside moves for BMRN, FOLD, and RARE, may be less given the more diverse product/candidate mix in each of these respective companies.”“While gene therapy companies in our universe have differences vs BOLD in technology platforms (AVRO, BLUE and RCKT), business models (BBIO, RGNX) and target indication strategy (AXGT), we expect shares to react positively to this news across our gene therapy and gene editing (NTLA) coverage.”Piper, Christopher Raymond“We suspect – and for good reason – that gene therapy levered or gene therapy-focused stocks are likely to see a decent rally today and going forward. Among the Piper coverage universe, these names include ADVM, BBIO, BMRN, MGTX, RCKT, QURE, RARE and SRPT.”Raymond James, Steven Seedhouse“This is clearly just another bullish signal for genetic medicine.”“It may also signal ‘platform value’ is a real thing that shouldn’t be ignored in today’s market. In our coverage, we expect EDIT (Outperform), NTLA (Outperform), CRSP (Underperform) will benefit from the optics.”Wedbush, David Nierengarten“We admit to being surprised at the acquirer, but any buyer of Audentes was likely to be one interested in buying not only leading gene therapy candidates but also technical expertise and manufacturing capacity.”“Early this year acquisitions for gene therapy companies Nightstar and Spark Therapeutics by Biogen and Roche, respectively, increased M&A chatter in the sector, and with this latest buyout, we expect the sector to benefit.”To contact the reporter on this story: Bailey Lipschultz in New York at email@example.comTo contact the editors responsible for this story: Catherine Larkin at firstname.lastname@example.org, Steven Fromm, Jennifer Bissell-LinskFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Gene therapy company Audentes Therapeutics Inc (NASDAQ: BOLD ) announced a deal late Monday to be acquired by Japanese pharma company ASTELLAS PHARMA/ADR (OTC: ALPMY ) for $60 per share, representing a ...
Bragar Eagel & Squire, P.C., a nationally recognized stockholder law firm, has launched an investigation into whether the board members of Audentes Therapeutics, Inc. (NASDAQ: BOLD) breached their fiduciary duties or violated the federal securities laws in connection with the company's proposed sale to Astellas Pharma Inc.
Astellas Pharma Inc.’s $3 billion acquisition of Audentes Therapeutics is a strong indicator that the pharmaceutical industry’s march into gene therapy development isn’t going to slow down in 2020.
(Bloomberg Opinion) -- Gene therapies — treatments that replace faulty genetic code to fight deadly diseases — are still in their infancy. Just two have been approved in the U.S. so far. But they got a big vote of confidence after the close of U.S. trading Monday when Japanese drugmaker Astellas Pharma Inc. announced it was buying Audentes Therapeutics Inc., a Bay Area developer of gene therapies, for $3 billion.The acquisition is a gamble for Astellas. It’s paying a substantial 110% premium over Audentes’s closing stock price on Monday, and the deal could constrain its ability to buy anything else of significance. And while there’s been a lot of progress in gene therapy — some treatments look like potential cures — no company has proved it can turn promise into sustained commercial success yet. Still, it may be worth the risk.Audentes has a broad and intriguing pipeline, and buying the company makes Astellas an instant player in gene therapy at a price that may not look so bad in the future. The nearest-term test of the deal will be the success of Audentes’s treatment for X-linked myotubular myopathy, a neuromuscular disease that occurs in one of every 40,000 to 50,000 male births and causes muscles to atrophy. Half of those born with the condition are likely to die within 18 months. Most who survive need ventilators and feeding tubes. The company hopes to file for U.S. approval by the middle of next year. The rarity of the condition will make for an especially tough product launch. Every patient will count, and Astellas will likely have to charge a hefty price.Luckily, the treatment looks highly effective. The first seven patients who had been dosed no longer needed ventilators, as of August. If those results continue, Astellas will have a strong case to make for a high price. Patients with this condition require enormous amounts of medical spending; a one-time treatment that substantially reduces that could wind up being highly cost-effective and appealing. Astellas also has a global reach and much more substantial resources, which will make the tough job of finding patients and getting reimbursement for the medicine easier. Even optimistic projections for the drug likely wouldn’t support a $3 billion buyout, however. Obtaining Audentes’s gene-therapy manufacturing capability helps, as making these drugs isn’t cheap or easy. But the real upside comes from Audentes’s earlier-stage drugs. The company has gene therapies in Pompe disease and Duchene Muscular Dystrophy (DMD) that it intends to test in clinical trials starting next year. Audentes believes its novel approach to both conditions could be more effective than those taken by a number of its competitors and has an interesting scientific rationale for those claims. Audentes’s various novel approaches still have to prove their worth in real-world tests. They add risk, but the deal could look very smart quite quickly if they work out. Sarepta Therapeutics, for example, is worth $8 billion, based in large part on an approach to DMD that Audentes thinks it can leapfrog. Positive data from any of the company’s next wave of products would speak well to the ambitious team and R&D platform that Astellas has acquired.No deal that doubles a target's stock price and wipes out most of an acquirer's dry powder can be called a bargain. And yet, Audentes would likely have been much more expensive had Astellas waited for the company's pipeline to mature and the field to get even hotter. When it comes to a promising new area of medicine, early is better than late.To contact the author of this story: Max Nisen at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Max Nisen is a Bloomberg Opinion columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Astellas and Audentes Therapeutics Inc (NASDAQ: BOLD) said they have entered a definitive agreement for the former to acquire the latter for $60 per share in cash, representing a total equity value of about $3 billion. The per-share transaction value represents a 110% premium to Audentes' Monday closing price of $28.61. Astellas, through Asilomar, an acquisition vehicle of its U.S. subsidiary, will commence in the next few weeks a tender offer to buy all outstanding Audentes shares.
Astellas Pharma Inc. will buy gene therapy pioneer Audentes Therapeutics Inc. for $3 billion cash, according to a definitive agreement the companies disclosed Monday afternoon. One, San Francisco-based Audentes (NASDAQ: BOLD) is one of the early startups in the gene therapy area, where companies are developing a single shot carrying the correct copy of a gene to cure patients of genetic diseases. Secondly, gene therapy has faced sharp highs and lows, but the $60-per-share price offered by Tokyo-based Astellas indicates that deep-pocketed biopharmaceutical companies see lots of hope in the field.
Astellas Pharma is paying $60 a share in cash for a gene-therapy stock that closed at $28.61 on Monday.
WILMINGTON, DE / ACCESSWIRE / December 3, 2019 / Rigrodsky & Long, P.A.: Do you own shares of Audentes Therapeutics, Inc. (NASDAQ GS: BOLD )? Did you purchase any of your shares prior to December 2, 2019? ...
Shares of Astellas Pharma Inc. rose about 1% in premarket trading after the Japanese drugmaker said Monday evening that it plans to acquire Audentes Therapeutics for $3 billion in cash. Audentes is developing gene therapies. Its stock jumped 105% in premarket trading. "This is just another bullish domino for genetic medicine," Raymond James' Steven Seedhouse wrote in a research note. In recent years, there have been a number of high-profile buyouts of companies developing gene therapies, including Roche's $4.8 billion pending acquisition of Spark Therapeutics and Novartis's $8.7 billion purchase of AveXis. Astellas said the boards of both companies have approved the deal. Shares of Astellas have gained 35% year-to-date, while the S&P 500 is up about 24%.
The following is a roundup of top developments in the biotech space over the last 24 hours: Scaling The Peaks (Biotech stocks that hit 52-week highs Dec. 2.) Aquestive Therapeutics Inc (NASDAQ: AQST ) ...
NEW YORK, Dec. 02, 2019 -- Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of Audentes Therapeutics, Inc. (NASDAQ: BOLD) to Astellas.
Astellas Pharma Inc. (TSE: 4503, President and CEO: Kenji Yasukawa, Ph.D., “Astellas”) and Audentes Therapeutics, Inc. (NASDAQ: BOLD, Chairman and CEO: Matthew R. Patterson, “Audentes”), today announced that they have entered into a definitive agreement for Astellas to acquire Audentes at a price of US$60.00 per share in cash, representing a total equity value of approximately US$3 billion. “Recent scientific and technological advances in genetic medicine have advanced the potential to deliver unprecedented and sustained value to patients, and even to curing diseases with a single intervention,” said Kenji Yasukawa, President and CEO, Astellas. “We are very pleased to enter into this merger agreement with Astellas,” stated Matthew R. Patterson, Chairman and Chief Executive Officer of Audentes.
Audentes Therapeutics, Inc. , a leading AAV-based genetic medicines company focused on developing and commercializing innovative products for serious rare neuromuscul