Spotlight Growth
No Result
View All Result
Tuesday, August 16, 2022
  • Login
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener
No Result
View All Result
No Result
View All Result
Home Bio/Med/Pharma

ChemoCentryx (NASDAQ: CCXI) to be Acquired by Amgen (NASDAQ: AMGN) for $3.7 Billion in Cash

by admin
August 4, 2022
in Bio/Med/Pharma
0
ChemoCentryx NASDAQ CCXI Amgen NASDAQ AMGN Takeover Spotlight Growth

ChemoCentryx NASDAQ CCXI Amgen NASDAQ AMGN Takeover Spotlight Growth

ChemoCentryx, Inc. (NASDAQ: CCXI) is engaged as a biopharmaceutical company that is focused on the research, development and commercialization of new treatments for inflammatory and autoimmune diseases and cancer. Shares of the biopharma company are skyrocketing 109% through early trading on Thursday, August 4, 2022. Over the past three months, ChemoCentryx has seen average daily volume of 1.35 million shares. However, volume of 22.9 million shares or dollar volume of around $1.15 billion, has already exchanged hands through early trading.

Shares of ChemoCentryx are soaring after the company announced it has entered into a definitive agreement to be acquired by Amgen, Inc. (NASDAQ: AMGN) for $52 per share in cash, which reflects an enterprise value of $3.7 billion. The acquisition helps to bolster Amgen’s inflammation and nephrology portfolio with the addition of TAVNEOS, a first-in-class treatment for ANCA-associated vasculitis.

TAVNEOS is an orally-administered selective complement component 5a receptor inhibitor, which was approved by the U.S. Food and Drug Administration in October 2021. The treatment is also approved in the European Union and Japan. U.S. sales alone of TAVNEOS during the first quarter of 2022 came in at $5.4 million. Aside from TAVNEOS, Amgen will acquire three early-stage drug candidates from ChemoCentryx that target the chemoattractant receptors for other types of inflammatory diseases.

The transaction is still subject to ChemoCentryx shareholder approval, as well as from regulatory officials. Both companies do estimate the transaction will close sometime during the fourth quarter of 2022.

“The acquisition of ChemoCentryx represents a compelling opportunity for Amgen to add to our decades-long leadership in inflammation and nephrology with TAVNEOS, a transformative, first-in-class treatment for ANCA-associated vasculitis,” said Robert A. Bradway, chairman and chief executive officer at Amgen. “We are excited to join in the TAVNEOS launch and help many more patients with this serious and sometimes life-threatening disease for which there remains significant unmet medical need. We also look forward to welcoming the highly skilled team from ChemoCentryx that shares our passion for serving patients suffering from serious diseases.”

Disclosure: No position. Spotlight Growth has no relationships with any of the companies mentioned in this article and did not receive payment in any form for its creation. This is an opinion article and is not meant to be financial advise. We are not broker-dealers or investment professionals. Please conduct your own due diligence. For more information on our disclosures, please visit: https://spotlightgrowth.com/disclosures/

Tags: acquisitionAmgenAmgen stockAMGNbiopharmaceuticalsbiotechCCXICCXI stockChemoCentryxcommon stockday tradingemerging growthinvestinginvesting newsinvestmentmedicalMergermicrocap stocksNASDAQnewsnews alertpharmaceuticalspublic companysalesservicessmall cap companiessmall cap stockssmall capsSpotlight GrowthSpotlight Growth Stocksstock marketstocksstocks to watchtrade newstradingtrading alerttreatmentwallstreetbetswebull wallstreetbets
Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Siyata Mobile NASDAQ SYTA SYTAW SD7 VK7 Purchase Orders Spotlight Growth

New Purchase Orders for SD7 Rugged Device, VK7, and Other Accessories Boost Siyata Mobile’s Outlook (NASDAQ: SYTA)

December 14, 2021
Telcoin TEL Crypto Spotlight Growth

Telcoin (TEL) Quietly Leads a Crypto Remittance Revolution

June 15, 2021
Decentraland (MANA) is the Proof of Concept for the Emerging Metaverse

Decentraland (MANA) is the Proof of Concept for the Emerging Metaverse

November 22, 2021
Alfi NASDAQ ALF Ridesharing Tablet Rollout Spotlight Growth

Alfi, Inc. (NASDAQ: ALF) Climbs 51% After Entering Into Agreement with Miami-Based Fulfillment & Distribution Center For its Ridesharing Digital Tablet Rollout

June 15, 2021
Cybersecurity Stocks Coming Into Focus Amid High-Profile Attacks

Cybersecurity Stocks Coming Into Focus Amid High-Profile Attacks

0
Safe-T SFET NASDAQ UN Presentation

Safe-T (NASDAQ: SFET) Has Been Selected to Present at the United Nations’ Office of Information and Communications Technology Event

0
Safe-T Group SFET Q4 FY 2020 Financial Results

Safe-T Group (NASDAQ: SFET) Reports Fourth Quarter and Full Year 2020 Financial Results

0
Safe-T Group NASDAQ SFET FY 2020 Prelim

Safe-T Group Ltd. (NASDAQ: SFET) Estimates Record-High Annual Revenues of Approximately $4.9 Million Representing ~50% Growth YoY 2020

0
PayPal NASDAQ PYPL Stock Near a Bottom Spotlight Growth

Is PayPal (NASDAQ: PYPL) Nearing a Bottom?

August 16, 2022
GreenBox POS Q2 2022 Earnings Results Spotlight Growth

GreenBox POS (NASDAQ: GBOX) Reports Record Processing Volume of Over $1 Billion During Q2 2022, Revenues Grow 42% From Q1 2022

August 16, 2022
Asure NASDAQ ASUR Continues Top and Bottom Line Growth Spotlight Growth

Asure (NASDAQ: ASUR) Continues Top- and Bottom-Line Growth Amid Choppy Overall Economy

August 16, 2022
OLB Group NASDAQ OLB Q2 2022 Earnings Results Spotlight Growth

OLB Group (NASDAQ: OLB) Continues Record Revenue Growth for 2022

August 15, 2022

Recent News

PayPal NASDAQ PYPL Stock Near a Bottom Spotlight Growth

Is PayPal (NASDAQ: PYPL) Nearing a Bottom?

August 16, 2022
GreenBox POS Q2 2022 Earnings Results Spotlight Growth

GreenBox POS (NASDAQ: GBOX) Reports Record Processing Volume of Over $1 Billion During Q2 2022, Revenues Grow 42% From Q1 2022

August 16, 2022

Categories

  • Bio/Med/Pharma
  • Cannabis
  • Commodities
  • Consumer Goods
  • Crowdfunding
  • Crypto Cheat Sheets
  • Cryptocurrency
  • Earnings
  • Entertainment
  • Financials
  • Market News
  • Opinion
  • Politics
  • Real Estate
  • Split Watch
  • Sponsored
  • Store
  • Technology
  • Uncategorized
  • Venture Capital/Private Equity (VC/PE)

Site Navigation

  • Disclosures
  • Terms Of Service
  • Privacy Policy
  • Contact Us
Spotlight Growth

Copyright © 2021 Spotlight Growth. All Right Reserved. Designed by Cool Cat Interactive.

No Result
View All Result
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener

Copyright © 2021 Spotlight Growth. All Right Reserved. Designed by Cool Cat Interactive.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Newsletter Signup

Subscribe to our weekly newsletter below and never miss the latest small/micro-cap analysis and investment news from Spotlight Growth.

Enter your email address

Thanks, I’m not interested