Turning Point Therapeutics Licenses Its Lung Cancer Drug in China

Turning Point Therapeutics (NASDAQ: TPTX) on Tuesday licensed Greater China rights to its tyrosine kinase inhibitor, repotrectinib, to Zai Lab (NASDAQ: ZLAB) for $25 million in cash up front, plus up to  $151 million in development, regulatory and sales milestones, and tiered mid-to-high-teen percentage royalties on future sales. 

Currently, Turning Point is conducting phase 2 studies of repotrectinib as a potential treatment for patients with ROS1-positive advanced non-small cell lung cancer and NTRK-positive solid tumors. If the drug proves effective in those trials, then repotrectinib could compete against Pfizer's (NYSE: PFE) Xalkori, a tyrosine kinase inhibitor that had global sales of $149 million in the first quarter.

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Source Fool.com