Calithera Biosciences Inc. (CALA) stock prices were down by 1.47% as of the market closing on October 18th 2021. This brought the price per share down to USD$2.01. Subsequent premarket fluctuations saw the stock rise by 1%, bringing it up to USD$2.03.
Top 5 Tech Stocks to Buy in 2024
Don't let the chaos of rising interest rates, potential recession, tighter credit issues, higher oil prices, and incessant geopolitical issues chase you from the markets. Instead, just wait it out. With too much fear in the market, go bargain hunting with tech stocks. We have complied a report with the five of the best ways to profit within this industry.
"Top 5 AI Stocks to Buy in 2024."
Click here to sign up for our free report & newsletter, plus bonus offer "Elon Musk just Tiggered a BOOM in These Stocks"
Sponsored
Collaboration with Takeda
October 18th 2021 saw CALA stock announce its agreement with Takeda Pharmaceutical Company Ltd. The agreement will see Calithera acquiring two clinical stage compounds, both of which have shown single-agent clinical activity with the greatest potential in biomarker defined cancer patient populations. The compounds are sapanisertib and mibabotinib, both of which serve to further consolidate the company’s pipeline of clinical stage targeted therapies. Both of the clinical stage compounds are believed to be complementary to the company’s internally-developed pipeline programs. They also integrate seamlessly into the company’s current strategic focus on biomarker driven therapeutic approaches.
Scope of New Therapies
The single agent clinical data is highly promising and suggests that these therapies have the potential to help transform treatment for multiple cancer patient populations exhibiting a high unmet need. Sapanisertib has the potential to become the first targeted treatment for patients suffering from NRF2-mutated squamous non-small cell lung cancer. Over the course of the KEAPSAKE clinical trial, the company gained substantial insight into the unmet clinical need of patients with KEAP1/NRF2 mutations. The company’s complementary approach in KEAP1/NRF2-mutant squamous NSCLC serves to demonstrate its commitment to both, its patients and the pathway to further development and eventual commercialization.
Details of CALA Stock’s Transactions
As per the agreement signed by both partnering companies, the pending transaction will include a total upfront cash payment of USD$10 million to Takeda. In addition, USD$35 million will also be issues to Takeda in the form of CALA stock’s Series A preferred stock. Takeda will also be eligible to receive payments across Calithera’s clinical development, regulatory and sales milestones. These will consist of tiered royalties in the high single digits to low teens on future net sales, following the relevant regulatory approvals which will lead to the eventual commercial availability of the therapies.
Future Outlook for CALA Stock
CALA stock is keen to push for the accelerated development and commercialization of its newly acquired therapies. The company is confident that its development will result in a continued trajectory of success and unprecedented growth. Current and potential investors are hopeful that management will be able to effectively leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value over the long term.
