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Article: Basilea Becomes Sole Owner Of BAL5788; Roche Opts Out.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
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BioWorld International Correspondent
Basilea Pharmaceutica AG gained outright ownership of its lead development candidate, BAL5788, following a decision by its parent firm, F. Hoffmann-La Roche Ltd., not to pick up an option on the compound.
The news dropped Basel, Switzerland-based Basilea's shares, which trade on the Swiss Stock Exchange (SWX:BSLN), down CHF8.75 Tuesday, to a close of CH77.50 (US$61.09). It is trading well below its recent initial public offering price of CHF98 per share. The IPO near the end of March brought the company CHF205.8 million.
Basilea, which was formed in 2000 as a spinout from Roche, raised gross proceeds of about ...