UPDATE: Myvant shares 20% premarket on news of the Fiver Cancer drug deal up to $ 4.2 billion

Myovant Sciences MYOV shares,
Premarket trade soared 20% on Monday, followed by its parent Sumitovant Bypharma, which said Myovant Pfizer Inc. Will work with FE.
Jointly developing treatments in prostate cancer and women’s health advances and up to $ 4.2 billion in potential milestone payments. Myovant will receive an upfront payment of $ 650 million for the development of a once-daily, oral gonadotropin-releasing hormone receptor antagonist for use in oncology and women’s health in the US and Canada. Pfizer will have exclusive rights to commercialize relugolix in oncology outside the US and Canada, except in certain Asian countries. Myovant is one of five companies under the Sumitovant umbrella. “Myovant and Pfizer will jointly develop ORGOVYX (TM) (relugolix) in advanced prostate cancer and, if approved, relugolix combination tablets (relugolix 40 mg, estradiol 1.0 mg, and norethindrone acetate 0.5 mg) in women in the US. In health. Canada, “the companies said in a joint statement. The US Food and Drug Administration approved Orgovyx on 18 December for the treatment of advanced prostate cancer. Pfizer’s shares were slightly more premium and have risen 0.4% to date, while the S&P 500 SPX,
+ 0.35%
There is an increase of 15%.


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