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Tag: Orchard Therapeutics

  • Orchard Therapeutics (ORTX) Stock: What’s Happening Today?

    Orchard Therapeutics (ORTX) Stock: What’s Happening Today?

    Orchard Therapeutics plc (ORTX) is experiencing a remarkable surge in its market performance today, exhibiting a substantial gain of 97.77% and reaching a trading price of $15.98 at the latest trades.

    Additionally, the trading activity for Orchard Therapeutics stock has witnessed an atypical surge in volume, with over 6 million shares changing hands within the initial hour of the trading session. This notable surge contrasts sharply with the typical trading volume of 47.58K shares.

    The upswing in Orchard Therapeutics (ORTX) stock value coincides with the unveiling of an acquisition proposal. Kyowa Kirin, a leading Japanese pharmaceutical company, is set to acquire ORTX in a definitive agreement worth approximately $477.6 million.

    This acquisition aligns with Kyowa Kirin’s 2030 Vision, emphasizing innovative medical solutions and its commitment to life-changing medicines, particularly in rare diseases.

    Orchard Therapeutics’ gene therapy approach using genetically modified hematopoietic stem cells is at the forefront of genetic medicine, complementing Kyowa Kirin’s expertise. This strategic move will accelerate the development of ORTX’s MPS programs and other research initiatives.

    The combination of Orchard’s technology and Kyowa Kirin’s resources positions them to advance biopharmaceutical candidates across various therapeutic areas, including oncology and autoimmune diseases, with the potential to revolutionize medical care.

    In accordance with the established agreement, Kyowa Kirin is poised to orchestrate the acquisition of Orchard Therapeutics’ American Depositary Shares (ADSs) at a notable price of $16.00 per ADS in cash, amounting to approximately $387.4 million or ¥57.3 billion in value.

    This proposition represents a substantial premium of 144% over ORTX’s 30-day volume-weighted average ADS price leading up to October 4.

    As part of this transaction, Orchard Therapeutics (ORTX) shareholders will receive a non-transferable Contingent Value Right (CVR), entitling them to a cash payment of $1.00 per ADS, contingent on the approval of OTL-200 for Metachromatic Leukodystrophy (MLD) treatment in the United States, as explicitly outlined in the CVR Agreement.

  • Orchard Therapeutics plc (ORTX) Stock on the Rise Following Collaboration with Pharming Group

    Orchard Therapeutics PLC (ORTX) stock prices were down by a marginal 2.44% as of the market closing on June 30th, 2021, bringing the price per share down to USD$4.39 at the end of the trading day. Subsequent pre-market fluctuations saw the stock surge by 8.66%, bringing it up to USD4.77.

    Collaboration with Pharming

    July 1st 2021 saw the company announce its strategic collaboration with Pharming Group N.V. to research, develop, manufacture, and commercialize OTL-105. The newly disclosed investigational ex vivo autologous hematopoietic stem cell (HSC) gene therapy is designed to treat hereditary angioedema (HAE), which is a rare disorder that causes recurring swelling attacks in the face, throat, extremities, and abdomen and can be fatal.

    OTL-105

    The investigational HSC gene therapy OTL-105 is designed to prevent hereditary angioedema attacks by increasing C1 esterase inhibitor (C1-INH). It inserts one or more functional replicas of the SERPING1 gene into the HSCs of patients ex vivo, which are then transplanted back into the patient for suitable durable C1-INH production. Preclinical studies to date have seen the treatment demonstrate high levels of SERPING1 gene expression via lentiviral-mediated transduction in multiple cell lines and primary human CD34+ HSCs.

    Details of the Agreement

    As per the terms of the agreement, Pharming has been granted worldwide rights to OTL-105 after having been also given the responsibility for its clinical development, regulatory filings, and commercialization of the investigational gene therapy, which will include covering associated costs. ORTX will oversee the completion of IND-enabling activities as well as the manufacturing of the treatment during pre-clinical and clinical development, with the funding being provided by Pharming. Furthermore, both companies will collaboratively explore the application of non-toxic conditioning regimen for use in tandem with OTL-105 administration.

    Financial Details

    The company will be given an upfront payment of USD$17.5 million, which will consist of USD$10 million in cash and USD$7.5 million equity investment from Pharming. The equity investment will include a premium to the company’s recent share price. ORTX is also eligible to receive up to USD$189.5 million in regulatory, development, and sales milestones, as well as royalty payments on future worldwide sales in the range of mid-single to low double-digits.

    Future Outlook for ORTX

    Armed with the recent collaboration that is likely to expand the scope of ORTX’s operations over the future, the company is poised to capitalize on the increased opportunities afforded to it. Investors are hopeful that company will be able to continue its trajectory of success and usher in unprecedented growth.