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"The approval of Vitrakvi is a testament to the relentless prioritization of biology in the drug development process," said Josh Bilenker, CEO of Loxo Oncology.
The medication is designed for certain thyroid cancer patients.
Stamford-based Loxo Oncology has entered into a global strategic partnership with San Diego-based Illumina Inc. to commercially develop a multi-gene panel for broad tumor profiling.
Stamford-based Loxo Oncology Inc has announced its completion of the rolling submission of a new drug application to the U.S. Food and Drug Administration for the TRK inhibitor treatment larotrectinib.
Loxo Oncology will receive an upfront payment of $400 million and will be eligible for $450 million in milestone payments upon regulatory approvals.
Loxo Oncology Inc. expects to raise approximately $226.8 million next week by offering 3,150,000 shares of common stock at a public offering price of $72 per share.