Amgen (AMGN) has agreed to acquire Five Prime Therapeutics (FPRX) for $38.00 per share in cash, representing an equity value of approximately $1.9 billion. The acquisition includes Bemarituzumab, a phase 3 ready, first-in-class program for Gastric Cancer.
Five Prime's lead asset, bemarituzumab, is a anti-FGFR2b antibody with positive data from a randomized, placebo-controlled phase 2 study in frontline advanced gastric or gastroesophageal junction cancer.
Amgen reaffirmed its full-year outlook with revenue guidance of $25.8 to $26.6 billion and non-GAAP EPS guidance of $16.00-$17.00.
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