Ups And Downs In Protein Degraders: Big Deals For BMS, Merck KGaA, Safety Worries For Kymera
Amphista’s Platform Validated, Kymera Share Price Depressed
Kymera has seen its share price fall more than 30% this week as investors struggle to gauge how much future market potential targeted protein degraders will have.
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With only weeks to go in 2022, the three major pharmas each had inked between 16 and 20 deals. Meanwhile, Pfizer has been less busy with 12 deals, but those include M&A totaling $18.2bn.
Public Company Edition: Third Harmonic hopes to double its money, raising up to $150m. Also, Halozyme priced a $625m note sale to retire debt and repurchase shares, while Viridian raised $270m in an offering after positive early data, and Clarus cut jobs while Endo finalized a restructuring plan.
Looking to take advantage of the cool reception private biotechs are receiving from the public markets, a leading European VC is targeting investments of up to €70m per deal in firms with undervalued late-stage assets.