@A_May_MD If you owned $TERN since last year, do you really care?
Based on previous form $MRK will probably now rerun the $TERN study, just to prove to itself that the data were real.
Did $MRK ascribe any value to $TERN assets beyond TERN-701? Caroline Litchfield: our valuation is based on TERN-701.
For those wondering if $MRK might be outbid, here are the deal termination terms from $TERN https://t.co/TbM3rWyEoG
Fun fact: what was $TERN's initial focus, before it pivoted to CML? $MRK https://t.co/HsWxFnO6Uv
So it's official: $6.7bn $TERN $MRK
The $TERN data from December that enticed $MRK https://t.co/51H9opufDT
$MRK buying $TERN for $6.7 billion, or $53 per share. https://t.co/N9SjDxTx50
@JacobPlieth Agreed. The $TERN data were the belle of the ASH25 ball.
@adamfeuerstein I've not run the numbers, so won't comment specifically on valuation, but: - $TERN early data at #ASH25 were outstanding. - companies have previously spent $6bn on far worse assets than TERN-701.
Not here how to tell anyone how to do their business (well... maybe I am...) but $6B for $TERN seems cheap. Maybe what we heard from Lilly's Jake van Naarden last week is true, the sellers are delusional (and so are investors in said sellers?) Or, are buyers just unwilling to pay big premiums any longer? Maybe n=1 isn't enough to draw conclusions. Discuss...
@JacobPlieth FTC would have blocked a $NVS bid for $TERN, I think. $BMY buying $TERN made a lot of sense, and it needs it more than Merck. Maybe a higher bid is coming.
How did $BMY let $MRK buy $TERN?
Worth $6bn to $MRK? $TERN data from #ASH25 $ELVN
Still not convinced by $ELVN? Via @ApexOnco -> https://t.co/98kEmPBZfk $TERN
Notable that $ELVN didn't split out the 60mg from the 120mg results. Did 60mg actually do better than 80mg?? All quite bizarre, but stock +50% so what do I know! $TERN
OK then, let's play the "selected doses" game $ELVN $TERN https://t.co/qoY08k7Lfi
@NotJanetYellen7 So this idea that $ELVN comes after $TERN, that's been a thing for how long? A week?
If you enjoyed #ASH25 you can catch up on all @ApexOnco coverage, including previews, here -> https://t.co/XIQrEeKMwY $TERN $JNJ $LLY $CGEM $ONC $NRIX $PFE $REGN $KURA
$TERN wins #ASH25, via @ApexOnco -> https://t.co/6mQGwnSUq8 $ELVN $NVS
$ELVN vs $TERN: game over? #ASH25 https://t.co/2jLNdqFSFM
$TERN looks like the winner of #ASH25 then, +37% yesterday, and +600% since November's abstract lift. Funny, when I last wrote about it in May it was worth a quarter of $ELVN
$TERN investor dinner tonight in Orlando via Jefferies is standing room only. They ran out of seats and chicken, stragglers only get dinner rolls thrown to them.
$BMY should buy $TERN $BMY needs to buy $TERN If everyone else can make M&A predictions on this site, so can I.
$TERN Results in Terns leukemia drug study suggest it could be a successor to Novartis $NVS blockbuster https://t.co/51H9opufDT #ASH25
What to expect at the #ASH25 meeting, and some thoughts on the FDA’s Richard Pazdur https://t.co/2Upwf0Oh9M $TERN $INCY $ACLX $FULC
