Momelotinib momentum makes GSK's gain Gilead's loss
When Sierra Oncology (Nasdaq: SRRA) announced positive top-line results from the MOMENTUM trial earlier this year, certain execs at Gilead Sciences (Nasdaq: GILD) may have had a sinking feeling.
The study provided late-stage validation of what researchers had long suspected, that the oral JAK1, JAK2 and ACVR1 blocker momelotinib has huge potential in myelofibrosis.
The news sent Sierra stock soaring and attracted the interest of GSK (LSE: GSK) chief commercial officer Luke Miels, who negotiated a $1.9 billion purchase price for the firm in April.
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