Gilead Sciences and YM BioSciences have signed a definitive m&a agreement under which Gilead will acquire YM for U.S.$2.95 per share in cash.
Under the terms of this m&a agreement, upon closing of the proposed transaction, shareholders of YM will receive U.S.$2.95 per common share in cash. Others including holders of warrants and stock options will receive a cash payment equal to the difference between U.S.$2.95 and the exercise price of such warrant or stock option.
Gilead plans to fund this m&a with cash on hand.
YM’s lead drug candidate, CYT387, is an orally-administered, once-daily, selective inhibitor of the Janus kinase family, specifically JAK1 and JAK2.
The JAK enzymes have been implicated in a number of disorders including myeloproliferative diseases, inflammatory disorders and certain cancers.
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