After Surprise Overall Survival Data In Metastatic Breast Cancer, Gilead Takes Complete Rights To Trodelvy

Everest Medicines will transfer all development and commercialization rights of Trodelvy (sacituzumab govitecan) to Gilead Sciences Inc GILD in Greater China, South Korea, Singapore, Indonesia, Philippines, Vietnam, Thailand, Malaysia, and Mongolia.
In China and Singapore, Trodelvy is approved for unresectable locally advanced or metastatic triple-negative breast cancer (TNBC) who have received two or more prior systemic therapies.
The agreement dates back to April 2019. Everest Medicines and Immunomedics entered into the licensing agreement. Gilead subsequently acquired Immunomedics in October 2020.
Gilead will make a $280 million upfront payment to Everest.
In addition, Everest is eligible to receive up to $175 million in potential additional payments upon achievement of certain regulatory and commercial milestones.
Gilead will also be able to recruit Everest employees working directly on the Trodelvy program.
The transaction is expected to close later this year.
Yesterday, Trodelvy hit a positive readout at the second interim analysis of overall survival in the phase 3 TROPiCS-02 trial.
Gilead said it filed an FDA application for HR-positive, HER2-negative disease, which accounts for about 70% of new breast cancer diagnoses.
The data showed statistically significant and “clinically meaningful” results in overall survival in patients who received prior endocrine therapy, CDK4/6 inhibitors, and two to four lines of chemo.
Price Action: GILD shares are down 0.68% at $65.75 during the premarket session on the last check Tuesday.

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