Pfizer Inc. (NYSE:PFE) revealed that it was looking to acquire British pharmaceutical company, AstraZeneca, for $100 billion. However, the US pharmaceutical giant has so far been turned down twice. Pfizer Inc. (NYSE:PFE) stock opened today at $31.59 and is currently trading at $31.98. The stock showed a positive weekly performance of 1.65%.
Galena Biopharma (Nasdaq:GALE), a biopharmaceutical company developing and commercializing innovative, targeted oncology treatments that address major unmet medical needs to advance cancer care, today announced the Department of Defense (DoD) will provide funding towards a new clinical trial with NeuVax to prevent breast cancer recurrence in high-risk HER2 3+ patients. The grant, a Breast Cancer Research Program (BCRP) Breakthrough Award, was obtained by Elizabeth A. Mittendorf, M.D., Associate Professor, Department of Surgical Oncology, The University of Texas MD Anderson Cancer Center who will oversee the investigator-sponsored trial. Galena will support the trial with study drug and funding and will have access to the research to support ongoing registrational studies. Galena Biopharma Inc (NASDAQ:GALE) stock opened at $2.60, in current trading session and currently is at $2.45, by gaining 6.99%.The 52 week range of $1.65-$7.77. Company’s market capitalization is $288.80 million.
The deal is gigantic. Pfizer’s bid for AstraZeneca would represent the biggest-ever foreign takeover of a British business.It’s not the first time these two pharmaceutical giants have crossed paths. Pfizer, the maker of Viagra, said that AstraZeneca plc (ADR) (NYSE:AZN) rejected an initial approach in January valuing the company at about 59 billion pounds ($100 billion). The cash and shares deal would represent a 30 percent premium on AstraZeneca’s closing share price of 35.26 pounds on Jan. 3, the closing price around the time the offer was made. AstraZeneca plc (ADR) (NYSE:AZN) stock is currently trading at $78.09.The EPS of the stock is 2.04. Company’s market capitalization is $98.49 billion.
Synergy Pharmaceuticals Inc (NASDAQ:SGYP) announced the start of its second pivotal phase 3 clinical trial to confirm the safety and efficacy of plecanatide, its lead uroguanylin analog and once-daily oral treatment, in adult patients with chronic idiopathic constipation (CIC). Synergy Pharmaceuticals Inc (NASDAQ:SGYP) stock opened the session at $4.80, and now is at $4.81. The 52 week range of the SGYP stock remained $3.81-$6.70 and the day range was $4.68-$4.99.
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