Bellus Health Inc Stock Price, News & Analysis

BELLUS Health (BLU) has announced significant developments regarding its acquisition by GSK plc for US$2.0 billion. An Acquisition Meeting will take place on June 16, 2023, and shareholders must vote on the acquisition, with a record date set for May 15, 2023. Additionally, the company has postponed its Annual Meeting, initially set for May 4, 2023, to June 30, 2023, to focus on the acquisition. The new record date for this meeting is May 25, 2023. The acquisition is pending regulatory and shareholder approvals. BELLUS Health emphasizes the importance of this acquisition and advises investors to exercise caution regarding forward-looking statements made in the release.

GSK plc (LSE/NYSE: GSK) has announced its agreement to acquire BELLUS Health Inc. (TSX/NASDAQ: BLU) for US$14.75 per share, totaling an approximate equity value of US$2.0 billion. This acquisition aims to strengthen GSK's specialty medicines and respiratory pipeline, particularly through camlipixant, a selective P2X3 antagonist for refractory chronic cough (RCC), currently in phase III clinical trials with a launch anticipated in 2026. The deal is projected to be accretive to adjusted EPS starting from 2027 and has significant sales potential through 2031.

With an estimated 28 million patients suffering from chronic cough globally, this acquisition addresses a substantial unmet medical need, as no approved medicines currently exist for RCC in the US and EU.

BELLUS Health (Nasdaq: BLU; TSX: BLU) announced positive results from its Phase 1 bioavailability equivalence study of camlipixant, comparing a once-daily Extended-Release (ER) formulation to a twice-daily Immediate Release (IR) formulation. The study demonstrated equivalent bioavailability with 90% geometric mean AUC_∞ and a well-tolerated safety profile, mirroring prior trials with no taste-related adverse events. These findings confirm the proof of concept for the ER formulation, paving the way for further development and a planned multiple dose study. Additional data will be shared at an upcoming medical conference.

BELLUS Health reported its financial results for the year ended December 31, 2022, highlighting a net loss of US$76.1 million, or US$0.66 per share, compared to US$71.2 million in 2021. The company ended 2022 with US$337.1 million in cash, extending its runway through the second half of 2025. The CALM Phase 3 trials for camlipixant (BLU-5937) continue with patient enrollment ongoing, expecting topline data for CALM-1 in late 2024 and CALM-2 in 2025. Research and development expenses were US$58.4 million, showing slight decrease year-over-year.

BELLUS Health (Nasdaq: BLU; TSX: BLU) announced that President and CEO Roberto Bellini will join the Respiratory/Infections panel at the Cowen 43rd Annual Health Care Conference in Boston, MA, on March 8, 2023, at 10:30 a.m. ET. The company is focused on developing therapies for refractory chronic cough (RCC), a condition affecting around 9 million patients in the U.S. with no specific approved treatment outside Japan and Switzerland. BELLUS has completed a Phase 2b trial and is advancing its CALM Phase 3 clinical program for its treatment candidate BLU-5937.

BELLUS Health, a clinical-stage biopharmaceutical company, has announced that two abstracts will be presented at the American Academy of Allergy, Asthma & Immunology Annual Meeting in San Antonio, Texas, from February 24-27, 2023. The presentations focus on the burden of refractory chronic cough (RCC) and the diagnostic journey of patients. The poster presentations will occur on February 26, detailing the impact of RCC on quality of life. Currently, there are no FDA-approved therapies for RCC in the U.S., affecting approximately 9 million patients. BELLUS is advancing its P2X3 antagonist, BLU-5937, through Phase 3 clinical trials.

BELLUS Health has initiated the CALM Phase 3 program for its product candidate BLU-5937 targeting refractory chronic cough (RCC). Topline data is expected in late 2024 and 2025. The company ended Q3 2022 with US$364.4 million in cash, extending its runway into 2025, bolstered by a recent US$176.0 million public offering. However, the net loss for Q3 2022 was US$24.7 million, with R&D expenses at US$17.2 million, a decrease from the previous year. The company is pursuing other hypersensitivity indications for BLU-5937.