Under the terms of the merger agreement, a wholly-owned subsidiary of Gilead will promptly commence a tender offer to acquire all of the outstanding shares of Forty Seven’s common stock at a price of $95.50 per share in cash. © 2020 Gilead Sciences, Inc. All rights reserved. The tender offer described in this communication has not yet commenced. FOSTER CITY, Calif.--(BUSINESS WIRE)-- Gilead Sciences, Inc. (Nasdaq: GILD) today announced the completion of the previously announced transaction for Toro Merger Sub, Inc., a wholly owned subsidiary of Gilead (“Purchaser”), to acquire Forty Seven, Inc. (Nasdaq: FTSV) for $95.50 per share, net to the seller in cash, without interest, or approximately $4.9 billion in the aggregate. (650) 522-2739, Forty Seven, Inc.Hannah Deresiewicz, Investors
Gilead Sciences, Inc. (Nasdaq: GILD) today announced the completion of the previously announced transaction for Toro Merger Sub, Inc., a wholly owned subsidiary of Gilead (“Purchaser”), to acquire Forty Seven, Inc. (Nasdaq: FTSV) for $95.50 per share, net to the seller in cash, without interest, or approximately $4.9 billion in the aggregate. This antibody is currently being evaluated in multiple clinical studies in patients with myelodysplastic syndrome, acute myeloid leukemia, non-Hodgkin lymphoma, and solid tumors. Gilead Sciences, Inc. is a research-based biopharmaceutical company that discovers, develops and commercializes innovative medicines in areas of unmet medical need. The webcast will be archived on www.gilead.com for one year. Forty Seven’s lead program, magrolimab, is a monoclonal antibody against the CD47 receptor, a “don’t eat me” signal that cancer cells commandeer to avoid being ingested by macrophages. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including all statements regarding the intent, belief or current expectation of the companies’ and members of their senior management team. View the full release here: https://www.businesswire.com/news/home/20200302005443/en/. For more information on Gilead Sciences, please visit the company’s website at www.gilead.com. FSI-189, an anti-SIRPα antibody, is being developed for the treatment of cancer, as well as certain non-oncology settings, including transplantation conditioning. For more information on Gilead Sciences, please visit the company’s website at gilead.com. Seven patients (32 percent) had stable disease and one patient (5 percent) had progressive disease. For most of its time on public markets, Forty Seven has traded below $20, dipping as low as $6 back in October. The science and the way Forty Seven will fit into Gilead's strategy are basically irrelevant at this point. Forty Seven presented promising results of a Phase 1b study of magrolimab in patients with MDS and AML at the American Society of Hematology meeting in December 2019. Gilead has operations in more than 35 countries worldwide, with headquarters in Foster City, California. FORTY SEVEN’S STOCKHOLDERS AND OTHER INVESTORS ARE URGED TO READ THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER TENDER OFFER DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION WHICH SHOULD BE READ CAREFULLY BEFORE ANY DECISION IS MADE WITH RESPECT TO THE TENDER OFFER. A solicitation and an offer to buy shares of Forty Seven will be made only pursuant to an offer to purchase and related materials that Gilead intends to file with the SEC. With a profile that lends itself to combination therapies, magrolimab could potentially have transformative benefits for a range of tumor types. The Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as well as the Solicitation/Recommendation Statement, will be sent to all stockholders of Forty Seven at no expense to them. (Bloomberg) -- Gilead Sciences Inc. agreed to buy Forty Seven Inc. for about $4.9 billion to advance into one of the hottest areas of pharmaceutical research: cancer treatments that harness the immune system to fight tumors. Additional Information and Where to Find It. Magrolimab has been granted Fast Track designation by the U.S. Food and Drug Administration (FDA) for the treatment of MDS and AML, and for the treatment of relapsed or refractory DLBCL and follicular lymphoma, two forms of B-cell NHL. Gilead’s accepted final bid valued Forty Seven at $95 a share. More than 400 patients have received the compound to date through clinical trials. Gilead has operations in more than 35 countries worldwide, with headquarters in Foster City, California. Forty Seven Inc. (NASDAQ: FTSV) shares skyrocketed on Monday after the company announced that it would be acquired by Gilead Sciences Inc. (NASDAQ: GILD). Skadden, Arps, Slate, Meagher & Flom LLP acted as legal counsel to Gilead and Cooley LLP acted as legal counsel to Forty Seven. FOSTER CITY, Calif. & MENLO PARK, Calif.--(BUSINESS WIRE)-- Gilead Sciences, Inc. (Nasdaq: GILD) and Forty Seven, Inc. (Nasdaq: FTSV) announced today that the companies have entered into a definitive agreement pursuant to which Gilead will acquire Forty Seven for $95.50 per share in cash. 1 The Foster City, California-based company has agreed to pay $95.50 per share in cash for Forty-Seven Inc, adding the 5-year old biotechnology company to bolster its portfolio of oncology drugs through its blood cancer medicine, which is expected to be on the market within 2 years. The more critical factors in deciding whether to invest are where we are in the cycle of the transaction (somewhere between the initial announcement and an unknown closing date this quarter), and the current stock price. FOSTER CITY, Calif.--(BUSINESS WIRE)-- Gilead will acquire Forty Seven for $95. Additional studies are ongoing in non-Hodgkin lymphoma (NHL) and solid tumors. No deaths were observed in the first 60 days on combination treatment and only one patient out of 62 (1.6 percent) discontinued treatment due to a treatment-related AE. For the latest updates on our ongoing response to COVID-19, please click here. We are looking forward to working with the highly experienced team at Forty Seven to help patients with some of the most challenging forms of cancer.”, “This is an exciting day for patients who may one day benefit from future anti-CD47 therapies and other immuno-oncology treatments based on our research and an exciting time for Forty Seven as this allows us to achieve our vision of helping patients defeat their cancer,” commented Mark McCamish, MD, PhD, President and Chief Executive Officer of Forty Seven. FOSTER CITY, Calif.--( )--Apr. Gilead Sciences Statement on Recent Events in Washington, D.C. Gilead Announces New Arm of HIV Women’s Prevention Study to Evaluate the Investigational Long-Acting HIV-1 Capsid Inhibitor Lenacapavir in Addition to Descovy for PrEP®, Gilead Sciences Statement on The World Health Organization’s Updated Veklury® (Remdesivir) COVID-19 Treatment Guidelines, https://www.businesswire.com/news/home/20200302005443/en/. Forty Seven, Inc. is a clinical-stage immuno-oncology company that is developing therapies targeting cancer immune evasion pathways and specific cell targeting approaches based on technology licensed from Stanford University. This press release features multimedia. About Forty Seven. * gilead sciences inc - deal for $95.50 per share * forty seven inc - following completion of tender offer, co will acquire all remaining shares not tendered in offer through second step merger For the latest updates on our ongoing response to COVID-19, please, Clinical Trials Transparency & Data Sharing Policy, Gilead Announces Plans for New Location in North Carolina’s Research Triangle Region Dedicated to Business Services, Gilead Sciences Statement on the Passing of the Honorable George P. Shultz, PhD. Some content on this site is not intended for people outside the United States. FOSTER CITY, Calif.–(BUSINESS WIRE)–Gilead Sciences, Inc. (Nasdaq: GILD) today announced the completion of the previously announced transaction for Toro Merger Sub, Inc., a wholly owned subsidiary of Gilead (“Purchaser”), to acquire Forty Seven, Inc. (Nasdaq: FTSV) for $95.50 per share, net to the seller in cash, without interest, or approximately $4.9 billion in the aggregate. The median time to response among MDS and AML patients treated with the combination was 1.9 months. Beyond magrolimab, Forty Seven is preparing to advance two additional investigational compounds into clinical testing. Risks and uncertainties that could cause the actual results to differ from expectations contemplated by forward-looking statements include: the effects of the transaction on relationships with employees, other business partners or governmental entities; the difficulty of predicting the timing or outcome of FDA approvals or actions, if any; the impact of competitive products and pricing; other business effects, including the effects of industry, economic or political conditions outside of Gilead’s control; transaction costs; actual or contingent liabilities; adverse impact on business, operating results or financial condition in the future due to pandemic, epidemic or outbreak, such as COVID-19; and other risks and uncertainties detailed from time to time in Gilead’s periodic reports filed with the U.S. Securities and Exchange Commission, including current reports on Form 8-K, quarterly reports on Form 10-Q and annual reports on Form 10-K. All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation and disclaims any intent to update any such forward-looking statements. Forward-looking statements include, without limitation, statements regarding the business combination and related matters, prospective performance and opportunities, post-closing operations and the outlook for the companies’ businesses, including, without limitation, the ability of Gilead to advance Forty Seven’s product pipeline, including magrolimab, FSI-174 and FSI-189; regulatory approval of magrolimab, FSI-174 and FSI-189 on a timely basis; the anticipated timing of clinical data; the possibility of unfavorable results from clinical trials; filings and approvals relating to the transaction; the expected timing of the completion of the transaction; the ability to complete the transaction considering the various closing conditions; difficulties or unanticipated expenses in connection with integrating the companies; and any assumptions underlying any of the foregoing. “This agreement builds on Gilead’s presence in immuno-oncology and adds significant potential to our clinical pipeline,” said Daniel O’Day, Chairman and Chief Executive Officer of Gilead Sciences. The company strives to transform and simplify care for people with life-threatening illnesses around the world. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements include, without limitation, statements regarding the business combination and related matters, prospective performance and opportunities, post-closing operations and the outlook for the companies’ businesses, including, without limitation, the ability of Gilead to advance Forty Seven’s product pipeline, including magrolimab, FSI-174 and FSI-189; regulatory approval of magrolimab, FSI-174 and FSI-189 on a timely basis; the anticipated timing of clinical data; the possibility of unfavorable results from clinical trials; difficulties or unanticipated expenses in connection with integrating the companies; and any assumptions underlying any of the foregoing. Patients were then treated with full doses of azacitidine and magrolimab maintenance doses of 30 mg/kg weekly. 7, 2020-- Gilead Sciences, Inc. (Nasdaq: GILD) today announced the completion of the previously announced transaction for Toro Merger Sub, Inc., a wholly owned subsidiary of Gilead (“Purchaser”), to acquire Forty Seven, Inc. (Nasdaq: FTSV) for $95.50 per share, net to the seller in cash, without interest, or approximately $4.9 billion in the aggregate. For more information about Gilead, please visit the company’s website at www.gilead.com, follow Gilead on Twitter (@Gilead Sciences) or call Gilead Public Affairs at 1-800-GILEAD-5 or 1-650-574-3000. In addition to the Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as well as the Solicitation/Recommendation Statement, Gilead and Forty Seven file annual, quarterly and current reports, proxy statements and other information with the SEC. Adverse events (AEs) were consistent with prior clinical experience. Free copies of these materials and certain other offering documents will be made available by Gilead by mail to Gilead Sciences, Inc., 333 Lakeside Drive, Foster City, CA 94404, attention: Investor Relations, by phone at 1-800-GILEAD-5 or 1-650-574-3000, or by directing requests for such materials to the information agent for the offer, which will be named in the Tender Offer Statement. Magrolimab has the potential to be a first-in-class therapy. Gilead Sciences, Inc. announced the completion of the previously announced transaction for Toro Merger Sub, Inc., a wholly owned subsidiary of Gilead (“Purchaser”), to acquire Forty Seven, Inc. for $95.50 per share, net to the seller in cash, without interest, or approximately $4.9 billion in the aggregate. Gilead Sciences, Inc. is a research-based biopharmaceutical company that discovers, develops and commercializes innovative medicines in areas of unmet medical need. In December 2019, Forty Seven presented promising results of a Phase 1b trial evaluating magrolimab in combination with azacitidine in untreated patients with higher risk MDS and untreated patients with AML, who are ineligible for induction chemotherapy. For more information on Gilead Sciences, please visit the company’s website at www.gilead.com. All patients received a 1 mg/kg priming dose of magrolimab, coupled with intrapatient dose escalation to mitigate on-target anemia. (RTTNews) - Gilead Sciences Inc. (GILD) has agreed to acquire Forty Seven Inc. (FTSV), a clinical-stage immuno-oncology company, for $95.50 per share in cash, the two companies said Monday. For the latest updates on our ongoing response to COVID-19, please click here. The Tender Offer Statement and the Solicitation/Recommendation Statement will be made available for free at the SEC's web site at www.sec.gov. This communication is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell shares of Forty Seven, nor is it a substitute for any tender offer materials that Gilead, its acquisition company or Forty Seven will file with the SEC. As of the data cutoff, 46 patients were evaluable for response assessment, including 24 patients with untreated higher-risk MDS and 22 patients with untreated AML, who were ineligible for induction chemotherapy. At the time the tender offer is commenced, Gilead will file a Tender Offer Statement on Schedule TO with the SEC, and Forty Seven will file a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC with respect to the tender offer. Please connect to the website at least 15 minutes prior to the start of the call to allow adequate time for any software download that may be required.