Myovant Sciences Stock Rises After Pfizer Collaboration | Financial Buzz

Myovant Sciences Stock Rises After Pfizer Collaboration

Myovant Sciences Ltd. (NYSE: MYOV) stock jumped more than 26% after the clinical-stage biopharmaceutical company announced a collaboration with Pfizer Inc. (NYSE: PFE) to develop and commercialize relugolix – a once-daily, oral gonadotropin-releasing hormone (GnRH) receptor antagonist – in oncology and women’s health in the U.S. and Canada. Pfizer will also receive an exclusive option to commercialize relugolix in oncology outside the U.S. and Canada, excluding certain Asian countries.

“We are thrilled to partner with Pfizer to unlock the full potential of ORGOVYX in advanced prostate cancer and relugolix combination tablet in uterine fibroids and endometriosis, advancing our mission to redefine care for women and for men,” said Lynn Seely, M.D., Chief Executive Officer, Myovant Sciences, Inc. “Pfizer is the ideal partner for Myovant given its impressive capabilities and track record across both oncology and women’s health. This transformative collaboration will significantly strengthen the upcoming launch of ORGOVYX and the potential launches of relugolix combination tablet in women’s health, while substantially enhancing our financial position and enabling us to expand our pipeline of potential new medicines.”

Under the terms of the collaboration, the two companies will jointly develop and commercialize ORGOVYX™ (relugolix) in advanced prostate cancer and, depending on approval, relugolix combination tablet (relugolix 40 mg, estradiol 1.0 mg, and norethindrone acetate 0.5 mg) in women’s health in the U.S. and Canada.

“We are excited to join forces with Myovant and combine our capabilities to bring ORGOVYX to patients with advanced prostate cancer,” said Andy Schmeltz, Global President, Pfizer Oncology. “This strategic collaboration builds on our leadership in serving prostate cancer patients in the U.S. and aligns with our goal to deliver more breakthroughs across the prostate cancer treatment paradigm.”

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