Shots:

• GSK to acquire Sierra for $55/share of common stock in cash making a total deal value of ~$1.9B. It represents a 39% premium to Sierra Oncology’s closing stock price on 1 day prior & the transaction is expected to be close in Q3’22 or before
• Following the completion of the transaction & the approval of momelotinib for myelofibrosis patients with anaemia, the therapy will contribute to GSK's growing business with expected sales in 2023. The stockholders of Sierra hold ~28% of outstanding shares
• The acquisition complements GSK’s expertise in haematology with the addition of Momelotinib & supports the development of a strong portfolio for new therapies & vaccines. Sierra plans for regulatory submission in the US in Q2’22 & EU submission in H2’22

Ref: GSK | Image: GSK