Wednesday, June 20, 2012, 11:52 AM
AstraZeneca (AZN +0.25%) completes its $1.26B acquisition of Ardea Biosciences (RDEA), which develops two potential drugs for gout and one for cancer.
Comment![Healthcare, M&A]
Wednesday, May 30, 2012, 1:52 PM
Ardea Biosciences (RDEA -0.1%) says it's earned a $7.5M milestone payment from Bayer (BAYRY.PK) under the terms of their April 2009 global license agreement to develop and commercialize RDEA's mitogen-activated ERK kinase inhibitor compounds for cancer and other indications. The milestone was triggered by the recent initiation of Phase 2 clinical studies. Separately, Gabelli says it's raised its stake in the company from 7.9% to 8.94%.
Comment![Healthcare, On the Move]
Monday, April 23, 2012, 12:22 PM
AstraZeneca's (AZN -1.8%) purchase of Ardea Biosciences (RDEA +51.5%) may be the first in a series of deals for the company. The drug developer is considering buying other late-stage assets outside its research and development focus on cancer, diabetes and gastrointestinal ailments, in an effort to counter looming generic competition.
Comment![Healthcare, M&A, On the Move]
Monday, April 23, 2012, 3:20 AM
AstraZeneca (AZN) will buy Ardea Biosciences (RDEA) for $1.26B, giving it access to a new drug for treating gout patients. Net of the existing cash held by Ardea, the $32/share acquisition is valued at $1B and is a 54% premium to Ardea's Friday close. (PR)
1 Comment[M&A, Healthcare, Top Stories]
Thursday, March 1, 2012, 3:44 PM
William Blair initiates coverage on Savient Pharmaceuticals (SVNT) and Ardea Biosciences (RDEA), citing their roles in developing therapies for gout. The firm estimates the U.S. gout market at $2B-$3B; SVNT's Krystexxa will start to gain traction this year, and RDEA's lesinurad, currently in Phase III studies with data expected in 2013, eventually will hit $1.7B in worldwide sales.
Comment![Healthcare]
Wednesday, February 1, 2012, 8:51 AM
Ardea Biosciences (RDEA) announces that it plans to sell an undisclosed amount of common stock. Shares of RDEA move down 5.4% premarket off the news.
Comment![On the Move, Healthcare]
Friday, December 23, 2011, 4:11 PM
Ardea Biosciences (RDEA), which closed the day with a market cap of $470.4M, has filed for a $150M mixed shelf offering. The company plans to partly use the proceeds to help fund a clinical trial for its Lesinurad drug for treating gout.
Comment![Healthcare]
Wednesday, September 7, 2011, 1:24 PM
Ardea Biosciences (RDEA +6%) is trading higher after saying earlier that it's completed its end-of-phase 2 meetings with the FDA, and has reached an agreement on key aspects of its proposed lesinurad development plan for phase 3.
Comment![Healthcare, On the Move]