How Gilead Sciences Is Driving Forty Seven and Trillium Therapeutics Higher Today
Gilead Sciences (NASDAQ: GILD) is reportedly in buyout, or possible licensing, talks with the clinical-stage cancer company Forty Seven (NASDAQ: FTSV), according to Bloomberg. Forty Seven's lead drug candidate, magrolimab, targets a fairly unique therapeutic pathway named CD47. By inhibiting this cell-signaling pathway, magrolimab allows the immune system to better recognize tumor cells, while triggering a potent therapeutic response (phagocytosis by macrophages).
In response to this buyout rumor, Forty Seven's shares jumped by 32.7% in pre-market action Friday morning. Rival drugmaker Trillium Therapeutics Inc. (NASDAQ: TRIL) is also getting a nice boost on the heels of this news. Specifically, Trillium's stock is up by a hefty 43% in pre-market trading today.
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Source Fool.com
