By Stephen Nakrosis

 

Biopharmaceutical company Calithera Biosciences Inc. on Monday said was expanding its oncology pipeline as it agreed to acquire two clinical-stage compounds from Takeda Pharmaceutical Co. Ltd.

Calithera said the compounds, sapanisertib and mivavotinib, strengthen its pipeline of clinical-stage targeted therapies. Susan Molineaux, the company's president and chief executive, said "We believe that these clinical-stage compounds are an excellent complement to our internally-developed pipeline programs, and fit well with our current strategic focus on biomarker-driven therapeutic approaches."

She also said the company plans to start clinical trials for both compounds and generate data in the next 12 to 18 months.

At 4:18 p.m. ET, Calithera stock had risen 4.48% to $2.10.

The stock finished the day's regular-trading session with a 1.47% loss, closing at $2.01 a share.

 

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

October 18, 2021 16:39 ET (20:39 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Takeda Pharmaceutical (NYSE:TAK)
Historical Stock Chart
From Nov 2021 to Dec 2021 Click Here for more Takeda Pharmaceutical Charts.
Takeda Pharmaceutical (NYSE:TAK)
Historical Stock Chart
From Dec 2020 to Dec 2021 Click Here for more Takeda Pharmaceutical Charts.