December 4, 2020 by MMinspect
For Bristol-Myers Squibb, transactions are expected to be diluted by $0.02 and $0.10, respectively, in 2018 and 2019 to the company`s non-GAAP-EPS. Nektar and Bristol-Myers Squibb currently expect the transaction to close in the second quarter of 2018, subject to the expiry or end of waiting times under all U.S. antitrust laws and the completion of other customary and customary closing conditions. For more details on the agreement, see Nektar`s Form 8-K, which was submitted today to the Securities and Exchange Commission. Sidley Austin LLP advises Nektar on strategic cooperation agreement and participation. The revision of the Strategic Cooperation Agreement includes a new joint development plan, under which Nektar and Bristol-Myers Squibb will expand Bempeg plus Nivolumab`s active clinical development program from three ongoing registration studies on front-line metastatic melanoma. Metastatic cisplatin-ineligible and metastatic kidney cancer (RCC) from the first line include two additional recording studies in adjuvant melanoma and vascular bladder cancer. In addition, a phase 1/2 study on dose escalation and expansion is launched to evaluate Bempeg plus nivolumab in association with axitinib in the DErème RCC to support a future registration study. The cost of these studies is allocated on the basis of cost-sharing defined under the terms of the initial cooperation agreement. As part of the new strategic cooperation agreement, Bristol-Myers Squibb will independently conduct and fund a phase 1/2 dose optimization and extension study for non-small cell lung cancer with Bempeg and Nivolumab. Nectar will host a conference call and webcast today, February 14, 2018, at 8:00 a.m.m to discuss the transaction.
The call can be accessed at (877) 881-2183 (U.S.) or (970) 315-0453 (international) and entering the passcode 2289559. To access the live webcast or subsequent archived recording, visit the Investor Events section on the Nectar website at ir.nektar.com/events-and-presentations/events. The webcast will be available for reading on Nectar`s website for two weeks after the call.
