Sierra Oncology Stock Price, News & Analysis

Sierra Oncology (NASDAQ: SRRA) announced significant findings from its pivotal Phase 3 MOMENTUM study of momelotinib in myelofibrosis patients suffering from anemia. Results indicate that 25% of patients on momelotinib achieved a over 50% reduction in total symptom scores, significantly outperforming the control's 9% (p=0.0095). The study also reported 31% of momelotinib patients achieved transfusion independence, compared to 20% in the control group (p=0.0064). These results, presented at the ASCO meeting, highlight momelotinib's potential as a preferred treatment for symptomatic, cytopenic patients.

Sierra Oncology (NASDAQ: SRRA) announced the acceptance of two abstracts for the 2022 European Hematology Association Annual Meeting. The pivotal phase 3 MOMENTUM study data will be presented, showcasing momelotinib's efficacy in symptomatic and anemic myelofibrosis patients. Key results indicate significant improvement in total symptom score, transfusion independence, and splenic response rate compared to the control arm. Furthermore, a subset analysis highlights momelotinib's safety and effectiveness in patients with low platelet counts.

Sierra Oncology, Inc. (NASDAQ: SRRA) reported its Q1 2022 financial results, highlighting a merger agreement with GSK for $55 per share, valuing the company at $1.9 billion. This represents a 39% premium to its April 12 closing price. The company’s cash balance stood at $274 million, bolstered by recent equity offerings and warrant exercises. R&D expenses rose to $17.6 million, while net loss increased to $27.9 million from $19.9 million in Q1 2021. Sierra remains on track for a New Drug Application for momelotinib, following positive Phase 3 study results.

Sierra Oncology, Inc. (NASDAQ: SRRA) has granted stock options to twelve new employees under its 2018 Equity Inducement Plan. A total of 96,200 shares were allocated, with an exercise price of $54.61 per share, matching the company's closing stock price on the grant date. The options will vest over four years, beginning with 25% after the first anniversary of employment. Sierra focuses on developing targeted therapies for rare cancers, leveraging its scientific expertise to innovate cancer treatments.

RayzeBio, a focused biotechnology company, has appointed Angie You, Ph.D., to its board of directors. Dr. You previously served as CEO at Amunix Pharmaceuticals, leading its successful sale to Sanofi for over $1.2 billion. Her extensive experience includes strategic roles at Sierra Oncology and Aragon Pharmaceuticals. Dr. You aims to support RayzeBio's mission to advance targeted radiopharmaceuticals for solid tumor treatment. The company, founded in 2020, is developing drug conjugates utilizing potent alpha-emitting radioisotopes like Actinium-225.

GlaxoSmithKline (GSK) has announced the acquisition of Sierra Oncology (SRRA) for $55 per share, totaling approximately $1.9 billion. This acquisition aims to enhance GSK’s portfolio in hematology, particularly through Sierra's drug momelotinib, which addresses the unmet medical needs of myelofibrosis patients suffering from anemia. GSK anticipates regulatory submissions in the US and EU shortly, with sales contributions expected to commence in 2023. The acquisition is projected to be accretive to GSK's adjusted EPS in 2024, supporting their long-term sales growth goals.

Sierra Oncology (NASDAQ: SRRA) has granted stock options to seven new employees under its 2018 Equity Inducement Plan, approved by the Compensation Committee. A total of 55,500 options were awarded with an exercise price of $33.76, matching the closing stock price on the grant date. The options vest 25% on the first anniversary of employment and the remaining 75% in monthly installments over three years, contingent on continued employment. Sierra Oncology focuses on developing targeted therapies for rare cancers.

Sierra Oncology (NASDAQ: SRRA) announced its participation in the 32nd Annual Oppenheimer Healthcare Conference, scheduled for March 15-17, 2022. CEO Stephen Dilly will present on March 15 at 3:20 PM ET, discussing the company’s mission to deliver targeted therapies for rare cancers. A replay of the presentation will be accessible on the corporate website's Events & Webcast section for 30 days post-conference. Sierra Oncology focuses on advancing cancer treatments through a deep understanding of disease mechanisms and innovative therapeutic approaches.

Sierra Oncology, Inc. (NASDAQ: SRRA) announced positive results from its MOMENTUM clinical trial for momelotinib, targeting symptomatic and anemic myelofibrosis patients. The company plans to submit a New Drug Application to the FDA in Q2 2022, anticipating commercialization by early 2023. Financially, Sierra bolstered its position with $155.3 million raised in Q1 2022 and reported $104.7 million in cash as of December 31, 2021. GAAP net loss widened to $94.7 million from $80.9 million year-over-year, with significant R&D expenses attributed to clinical trials and personnel additions.