Kadmon Holdings, Inc. (KDMN) experienced a huge increase of 76.42% in the premarket on 8th September 2021 because Sanofi is acquiring Kadmon in order to expand the transplant business. The last trading session concluded on $5.3 with an uprise of 1.34%.
Sanofi to Acquire KDMN
It is announced on 8th September 2021 that Sanofi and Kadmon Holdings, Inc. have signed a formal merger agreement. Sanofi will immediately add RezurockTM (belumosudil) to its transplant portfolio as part of its goal to continue to expand its General Medicines core assets. Rezurock is a first-in-class treatment for chronic graft-versus-host disease (cGVHD) in adults and children 12 years and older who have failed at least two previous lines of systemic therapy.
KDMN Announces U.S. Availability of REZUROCK
KDMN announces on 19th August 2021 that REZUROCKTM (belumosudil) 200 mg tablets are now commercially available for shipping to prescription patients in the United States. REZUROCK was authorized by the US Food and Drug Administration (FDA) on July 16, 2021, for the treatment of chronic graft-versus-host disease (cGVHD) in adults and children aged 12 and above who have failed at least two prior lines of systemic therapy.
KDMN reports second financial 2021 results
KDMN reported the second financial 2021 results on 5th August 2021. Losses from operations were $32.0 million and $59.4 million for the three and six months ended June 30, 2021, respectively.
The $5.6 million and $11.2 million increases in operating expenses for the three and six months ended June 30, 2021, respectively, were primarily due to belumosudil commercial launch readiness activities, non-cash stock compensation expenses, and direct external research and development costs of developing preclinical product candidates from our immuno-oncology platform.
Cash, cash equivalents, and marketable debt securities totaled $270.5 million as of June 30, 2021, up from $123.9 million as of December 31, 2020. The Company anticipates that its present financial position will enough support its operations and planned expenditures through 2023.
REZUROCK Added to National Comprehensive Cancer Network
As stated by KDMN on August 4, 2021, that REZUROCKTM tablets have been added to the National Comprehensive Cancer Network Clinical Practice Guidelines in Oncology for Hematopoietic Cell Transplantation (HCT) in the Pre-Transplant Recipient Evaluation and Management of Graft-Versus-Host Disease. REZUROCK is currently included as a recommended systemic agent for steroid-refractory chronic GVHD in the NCCN Guidelines in the United States, with a Category 2A designation.
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