Portola inks collaboration deal with Daiichi Sankyo


Portola Pharmaceuticals (PTLA -10%) enters into a second clinical collaboration agreement with Daiichi Sankyo to study andexanet alfa, PTLA's investigational Factor Xa inhibitor antidote in a Phase 3 clinical trial with Daiichi's Factor Xa inhibitor edoxaban. Portola's first collaboration agreement covered a Phase 2 proof-of-concept study. The Phase 3 trial is expected to commence in 2015.

Under the terms of the agreement, Portola will receive an upfront payment as well as development- and regulatory-related milestone payments. It retains full worldwide commercial rights to andexanet alfa for which it is pursuing an Accelerated Approval pathway.

Comments (3)
  • DoctoRx
    , contributor
    Comments (7867) | Send Message
     
    Surprising the stock took a 9% dive with this as the only public news today.

     

    Maybe there was a brokerage downgrade somewhere out there...
    7 Jul 2014, 05:11 PM Reply Like
  • BioNoob
    , contributor
    Comments (175) | Send Message
     
    Took profit off the table a couple of days ago and I think many had the same idea today since the stock has gone up 50% since the last couple of months. Today's dive gave me an opportunity to restart a position in $PTLA again and will continue to add if it goes down.

     

    The announcement of this deal further solidifies that the antidote works, but what is DSI's motivation for this deal? What will they be getting from PTLA in return for the milestone payments if PTLA retains full worldwide commercial rights? There is no free lunches in the world.
    7 Jul 2014, 06:58 PM Reply Like
  • hpmcompany
    , contributor
    Comments (43) | Send Message
     
    It doesn't say what Portola had to give up in order to get the up-front?
    18 Jul 2014, 12:08 PM Reply Like
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