Forma Therapeutics Stock (FMTX) Gains 50%: Here’s Why

Forma Therapeutics Stock (FMTX) Gains 50%: Here’s Why

September 3, 2022 0 By Gabriel Rollins
  • Novo Nordisk to acquire Forma Therapeutics for $1.1B.
  • Forma develops etavopivat fir anemia cure.

Forma Therapeutics Inc. had its shares gaining 50% after the company announced a decisive contract with Novo Nordisk.

The agreement’s terms show Novo Nordisk will buy the clinical pharmaceutical company concentrating on unique sickle cell and blood disorders in the transaction at $20 per stock, indicating a nearly $1.1 billion overall sale value.

CEO Word

Frank D. Lee, Forma’s CEO, said the latest announcement means a lucrative milestone that accelerated Forma’s goal to transform the lives of patients sufferings from hematological diseases, including sickle cell disease.

Novo Nordisk will work with the sickle cell community to heighten their effect on worldwide patients who urgently need new treatments.

The Forma Therapeutics acquisition plus the etavopivat experimental drug mean Novo Nordisk, advancing its scientific footprint & portfolio in hemoglobinopathies – where diseases in red blood cells hemoglobin proteins rearrange abnormally.

Novo Nordisk’s EVP and Rare Disease Head, Ludovic Helfgott, stated that the company had worked for over four decades to produce and deliver transformative medications to patients suffering from devastating diseases globally.

He added that incorporating Forma’s differentiated strategy to highlight unmet client needs means a step in improving the sickle cell disease channel.

Helfgott added that Novo Nordisk plans to create a leading o combination & distinct therapies to solve sickle cell’s underlying complications and causes.

Forma’s Etavopivat for Anemia Cure

Etavopivat is a once-a-day oral private pyruvate Kinase-R activator. Forma Therapeutics develops etavopivat for curing anemia and ensuring healthy red blood cells in individuals with SCD (single cell disease).

SCD is a life-threatening and debilitating disease that reduces lifespan. Besides Phase two study for people with transfusion-dependent SCD and Thalassemia, the drug candidate currently undergoes a worldwide 2/3 Study for sickle cell disease patients.

Lee concluded that the company looks to cooperate with Novo Nordisk to ensure trusted services to the community and advance innovation. Also, the company promises quality healthy for patients.

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