Latest news with #Verve
Canada News.Net
10 hours ago
- Business
- Canada News.Net
Eli Lilly bets on Verve, cholesterol gene therapy in $1.3 billion deal
INDIANAPOLIS, Indiana: Eli Lilly is making a bold play in cardiovascular gene therapy, announcing plans to acquire its partner Verve Therapeutics for up to US$1.3 billion as it expands beyond its blockbuster diabetes and weight-loss drugs. The move signals the pharmaceutical giant's more profound commitment to developing one-time gene-editing treatments for heart disease — specifically targeting high cholesterol — through technologies like base editing. Under the agreement announced this week, Lilly will pay $10.5 per share for Verve, a 67.5 percent premium over the biotech's previous closing price. Verve shares surged 75 percent to $11.02 in early trading. The Financial Times was the first to report that the deal was in the works. The transaction includes nearly $1 billion in upfront payments and up to $300 million in milestone-based payouts. The companies had already been collaborating on experimental therapies that use gene editing to reduce cholesterol in patients with a history of cardiovascular issues — a significant focus area for Lilly as it seeks long-term growth. Verve's leading candidate, VERVE-102, is in early trials and targets the PCSK9 gene, which is linked to cholesterol regulation. The therapy, based on base editing, aims to make a one-time change to a patient's DNA and is expected to be launched later this decade. "We are skeptical about the true market need of additional genetic medicines in these indications," said BMO Capital Markets analyst Evan Seigerman ahead of the announcement, citing competition from other cholesterol-lowering drugs. Still, industry observers said the deal is a significant boost for Verve and for the broader gene-editing field, which has struggled to attract investor enthusiasm recently. "This keeps Lilly focused within the cardiometabolic space," said Kevin Gade, COO at Bahl & Gaynor, referring to Lilly's core strength areas like diabetes and weight loss. Its therapies Mounjaro and Zepbound are projected to bring in over $30 billion this year, according to LSEG. Lilly has inked multiple partnerships with gene-editing firms in recent years, but this latest buyout is one of its boldest bets yet in the field.
Yahoo
2 days ago
- Business
- Yahoo
Verve Therapeutics Stock Soars as Eli Lilly Buys Gene-Editing Firm for $1.3B
Shares of Verve Therapeutics soared 75% Tuesday as Eli Lilly said it would acquire the gene-editing startup. The deal values Verve at about $1.3 billion, with some of Eli Lilly's potential payments dependent on certain trial milestones. Verve has an early stage clinical trial of a treatment to lower cholesterol and treat cardiovascular of Verve Therapeutics (VERV) skyrocketed 75% Tuesday morning after Eli Lilly (LLY) announced that it would acquire the gene-editing startup for about $1.3 billion. Eli Lilly said it will pay $10.50 per share to Verve shareholders initially, with a $3-per-share contingent value right (CVR) potentially paid out if Verve treats at least one patient with gene-editing medicine VERVE-102 for atherosclerotic cardiovascular disease (ASCVD) in a Phase 3 clinical trial within a decade of the deal's closing or termination of the CVR. The transaction is expected to close in the third quarter this year. VERVE-102 currently "is being evaluated in a Phase 1b clinical trial study and has been granted Fast Track designation by the U.S. Food and Drug Administration," Lilly said. "Verve was founded with one mission in mind: transform the treatment of cardiovascular disease from chronic care to a one-dose future," Verve CEO Dr. Sekar Kathiresan said. "In just seven years, our team has progressed three in vivo gene editing products, with two currently in the clinic. Now, we will take the next steps in the drug development journey together with an ideal strategic partner in Lilly." The Financial Times reported late Monday that the companies were close to a deal. Eli Lilly shares, which entered Tuesday up roughly 5% this year, were down less than 1% in recent trading. With today's sharp gains, Verve stock has nearly doubled in 2025. UPDATE—This article has been updated with the latest share price information. Read the original article on Investopedia
Yahoo
2 days ago
- Business
- Yahoo
Verve Therapeutics downgraded to Hold from Buy at Canaccord
Canaccord downgraded Verve Therapeutics (VERV) to Hold from Buy with a price target of $13, down from $39, after Eli Lilly (LLY) announced a definitive agreement to acquire Verve. Lilly will commence a tender offer to acquire all of the outstanding shares of Verve for a purchase price of $10.50 per share in cash, an aggregate of approximately $1B, plus one non-tradeable contingent value right per share that entitles the holder to receive up to an additional $3.00 per share. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on VERV: Disclaimer & DisclosureReport an Issue Verve Therapeutics downgraded to Market Perform at William Blair Morning Movers: Verve skyrockets after deal to be acquired by Eli Lilly Video: Verve, solar stocks among major pre-market movers Verve Therapeutics Merges with Eli Lilly in Acquisition Eli Lilly to acquire Verve Therapeutics for $10.50 per share in cash Sign in to access your portfolio
Business Upturn
3 days ago
- Business
- Business Upturn
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates VERV, SAGE, CTLP, SOAR on Behalf of Shareholders
NEW YORK, June 17, 2025 (GLOBE NEWSWIRE) — Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: Verve Therapeutics, Inc. (NASDAQ: VERV)'s sale to Eli Lilly and Company. Under the terms of the proposed transaction, Verve shareholders will receive $10.50 per share in cash, plus one non-tradeable contingent value right per share entitling the holder to receive up to an additional $3.00 per share upon the achievement of certain milestones. If you are a Verve shareholder, click here to learn more about your rights and options. Sage Therapeutics, Inc. (NASDAQ: SAGE)'s sale to Supernus Pharmaceuticals, Inc. Under the terms of the proposed transaction, Sage shareholders will receive $8.50 per share in cash, plus one non-tradable contingent value right collectively worth up to $3.50 per share in cash payable upon achieving certain net sales and commercial milestones. If you are a Sage shareholder, click here to learn more about your legal rights and options. Cantaloupe, Inc. (NASDAQ: CTLP)'s sale to 365 Retail Markets, LLC for $11.20 per share in cash. If you are a Cantaloupe shareholder, click here to learn more about your rights and options. Volato Group, Inc. (NYSE: SOAR)'s merger with M2i Global, Inc. Upon completion of the proposed transaction, current Volato shareholders will own approximately 10% of the combined company. If you are a Volato shareholder, click here to learn more about your rights and options. Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. Shareholders are encouraged to contact the firm free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email [email protected] or [email protected]. Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information:Halper Sadeh LLCDaniel Sadeh, Halper, World Trade Center85th FloorNew York, NY 10007(212) 763-0060 [email protected] [email protected]
Miami Herald
3 days ago
- Business
- Miami Herald
Eli Lilly Co. to buy gene-editing startup Verve to develop cardiac drugs
June 17 (UPI) --Eli Lilly and Company said Tuesday it will buy out Boston-based Verve Therapeutics Inc. in a billion dollar deal with plans to advance Verve's new line of experimental cardiac health drugs. Indianapolis-based Eli Lilly announced its definitive agreement to acquire Verge, a gene-editing startup, for up to $1.3 billion at $10.50 a share -- a premium of 67.5% at last closing -- with the goal to boost Verve's budding pipeline of medicine designed to target and treat a wide-range of cardiovascular-related health issues. "Lilly is eager to welcome our Verve colleagues to Lilly and continue the development of these promising potential new medicines aimed at improving outcomes for patients with cardiovascular disease and addressing the significant unmet medical need in this space," said Ruth Gimeno, Lilly's group VP for diabetes and metabolic research and development. Under the agreement terms, the transaction will not be subject to any financing conditions and will include a nearly $1 billion upfront payout plus a further $300 million based on certain clinical milestones. The deal is expected to close by this year's third quarter subject to conditions. Verve's medical treatment program, according to a Gimeno, could "shift the treatment paradigm for cardiovascular disease from chronic care to one-and-done treatment." Meanwhile, stock shares in Verve jumped 76% to over $11 in premarket trading Tuesday morning while Lilly stock value fell 1%. A years-long study from 2010-2022 released in November revealed how the number of dead via cardiovascular disease had surged among adults ages 25 to 64 living in rural areas. Verve uses a next gen type of gene editing which erases and rewrites a specific gene letter. Lilly's Gimeno says the Verve-102 program, which is currently in its Phase 1b clinal trial study and fast-tracked for FDA approval, "has the potential" to be the first "in vivo" gene editing therapy deployed to treat a broad population of patients seeking treatment for cardiac issues. 102 may be utilized for patients seeking treatment for heterozygous familial hypercholesterolemia (HeFH), which is a subset of ASCVD affecting 1 in 250 people. On Tuesday, Verve's chief noted how in just seven years that the Verve team had progressed three in vivo gene editing products with two currently in clinics. "Verve was founded with one mission in mind: transform the treatment of cardiovascular disease from chronic care to a one-dose future," said Verve Therapeutics co-founder and CEO Dr. Sekar Kathiresan. Copyright 2025 UPI News Corporation. All Rights Reserved.
