Apogee Therapeutics
Coverage of Apogee Therapeutics in the Nexus archive.
- America’s Split Economy: The Boom and the Worker
AbbVie agreed to acquire Apogee Therapeutics for $10.9 billion in a debt-funded deal, offering a 49% premium over Apogee’s June 18 closing share price. The transaction reflects a long-term investment in the company’s future growth.
- US stocks drift near their records in mixed trading after oil prices fall
U.S. stocks traded near records with mixed performance as oil prices fell following U.S.-Iran talks over the war. The S&P 500 declined 0.3%, the Dow rose 0.3%, and the Nasdaq dropped 1%. Lower oil prices did not reduce Treasury yields, which climbed amid inflation concerns and speculation about Federal Reserve rate hikes.
- US stocks drift near their records after oil prices fall
US stocks edged near records amid falling oil prices following US-Iran talks over the war, which could ease Strait of Hormuz tensions. The S&P 500 and Dow rose slightly, while the Nasdaq dipped. Treasury yields climbed due to inflation concerns, with traders anticipating potential Fed rate hikes by year-end.
- STAT+: AbbVie to buy Apogee Therapeutics in nearly $11B deal
AbbVie agreed to acquire Apogee Therapeutics for $10.9 billion in cash, valuing the company at $135.11 per share, a 50% premium over its previous closing price. The deal focuses on Apogee's lead drug, zumilokibart, which targets IL-13 and is being tested for inflammatory diseases like atopic dermatitis and asthma.
- STAT+: Kailera’s own ‘triple-G’ drug also looks very powerful
The FDA delayed a decision on AstraZeneca's breast cancer drug camizestrant due to advisory concerns over its trial design. Blackstone Life Sciences is investing $1.3 billion in Apogee Therapeutics for Phase 3 development of zumilokibart, a long-acting atopic dermatitis treatment. Kailera's experimental obesity drug, targeting three hormones, showed significant weight loss in a Phase 1 study.