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OFFON

ITEOS THERAPEUTICS, INC.

(ITOS)
  Report
Delayed Quote. Delayed Nasdaq - 09/21 04:00:00 pm
27.34 USD   +1.98%
09/21INSIDER SELL : Iteos Therapeutics
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09/16INSIDER SELL : iTeos Therapeutics
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09/14INSIDER SELL : Iteos Therapeutics
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

GSK, iTeos to develop cancer drug in up to $2 bln deal

06/14/2021 | 07:53am EDT

June 14 (Reuters) - Britain's GlaxoSmithKline Plc has agreed to pay up to $2 billion to iTeos Therapeutics Inc to develop and sell a potential cancer treatment together, the companies said on Monday.

Boston-based iTeos, whose shares jumped 52% in premarket trading, will receive a $625 million upfront payment and is eligible to get up to $1.45 billion more if the programme meets certain development and commercial milestones.

GlaxoSmithKline is under pressure to shore up its drug pipeline after a report that U.S. activist investor Elliott built up a significant stake in the company. The British drugmaker is also preparing to outline plans to split its consumer products business from its drug operations.

The iTeos deal is to develop EOS-448, a monoclonal antibody that acts as an anti-TIGIT agent, which showed promise in early studies.

Anti-TIGIT treatments are new experimental immunotherapies against certain cancer types. These treatments, including Roche's tiragolumab and Merck & Co vibostolimab, are designed to deactivate a tumour's ability to evade the immune system.

GSK's chief scientific officer Hal Barron, said immuno-oncology had "transformed cancer care" but that less than 30% of patients respond to treatment with the current leading immune checkpoint inhibitors.

The deal with iTeos will make GSK the only company with antibodies targeting the three known checkpoints, which sometimes keep the immune system from fighting cancer cells, GSK said.

EOS-448 is currently being tested in an early-stage study in patients with advanced solid tumours. GSK and iTeos plan to start combination studies of EOS-448 with GSK's recently approved cancer drug dostarlimab in 2022.

ITeos is eligible to get milestones and royalty payments on sales outside the United States, and the two companies will share both costs of the development and profits in the United States.

(Reporting by Vishwadha Chander in Bengaluru; Editing by Devika Syamnath and David Evans)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
EOS (EOS/ETH) -0.28% 0.001404 Real-time Quote.-59.91%
EOS (EOS/USD) 4.55% 4.0316 Real-time Quote.61.91%
GLAXOSMITHKLINE PLC 1.07% 1417.4 Delayed Quote.5.74%
ITEOS THERAPEUTICS, INC. 1.98% 27.34 Delayed Quote.-19.16%
ROCHE HOLDING AG -0.63% 339.35 Delayed Quote.9.82%
All news about ITEOS THERAPEUTICS, INC.
09/21INSIDER SELL : Iteos Therapeutics
MT
09/16INSIDER SELL : iTeos Therapeutics
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09/14INSIDER SELL : Iteos Therapeutics
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09/01ITEOS THERAPEUTICS : to Participate in Upcoming September Investor Conferences
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08/13ITEOS THERAPEUTICS : Wedbush Lifts ITeos Therapeutics' Price Target to $52 From $50, Keeps..
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08/12iTeos Reports Second Quarter 2021 Financial Results and Provides Business Update
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08/12ITeos Therapeutics, Inc. Announces Earnings Results for the Second Quarter Ended June 3..
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08/11ITEOS THERAPEUTICS : Management's Discussion and Analysis of Financial Condition and Resul..
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08/10ITEOS THERAPEUTICS : Regulation FD Disclosure (Form 8-K)
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08/10ITEOS THERAPEUTICS, INC. : Regulation FD Disclosure (form 8-K)
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Analyst Recommendations on ITEOS THERAPEUTICS, INC.
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Financials (USD)
Sales 2021 264 M - -
Net income 2021 123 M - -
Net Debt 2021 - - -
P/E ratio 2021 8,49x
Yield 2021 -
Capitalization 963 M 963 M -
Capi. / Sales 2021 3,65x
Capi. / Sales 2022 34,8x
Nbr of Employees 78
Free-Float 99,5%
Chart ITEOS THERAPEUTICS, INC.
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iTeos Therapeutics, Inc. Technical Analysis Chart | ITOS | US46565G1040 | MarketScreener
Technical analysis trends ITEOS THERAPEUTICS, INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Last Close Price 27,34 $
Average target price 49,20 $
Spread / Average Target 80,0%
EPS Revisions
Managers and Directors
Michel Detheux President, Chief Executive Officer & Director
Matthew Gall Chief Financial Officer
David L. Hallal Chairman
Joanne Jenkins Lager Chief Medical Officer
Yvonne McGrath Vice President-Research & Development
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