Action Alerts PLUS is a registered trademark of TheStreet, Inc. Developer of proprietary, orally administrable, small molecule biopharmaceutical drugs intended to cure type 2 diabetes, cancer, and other diseases. Sirtris Pharmaceuticals (NASDAQ:SIRT) ... as seen by today's 15% drop in the stock price, the stock still looks a little overpriced for a company with one drug in … CEO Christoph Westphal and the management team will continue to lead the unit. Sirtris is a biopharmaceutical company that's developing drugs to target a class of enzymes called sirtuins. The startup’s activity is discovering and developing proprietary, orally available, small molecule drugs with the potential to treat metabolic diseases such as Type 2 Diabetes and such of aging by modulating sirtuins, a recently discovered class of enzymes. The news comes a day before Glaxo's quarterly earnings release. Sirtris PharmaceuticalsGeneral Information. Its SIRT-501, which is in early-stage development, is an enhanced formulation of resveratrol (the healthful agent found in red wine) that targets one of those enzymes, SIRT1. Glaxo's shares edged up 9 cents, or 0.2% to $43.82 in recent post-market trading. Sirtris shares closed down 4% Tuesday prior to the news, at $12.23. Big pharma companies, pained by generic competition, have turned to licensing deals and acquisitions to bolster their pipelines. Sirtris founder and CEO Christoph Westphal will remain head of the unit once the cash sale of about $22.50 per share closes later this year. Markets Data Center: Biggest Price Gainers. READ MORE Prior to co-founding our company, Dr. Milne worked as head of discovery biology at Sirtris Pharmaceuticals, a biotechnology company, from 2004 to 2008, when it was acquired by GlaxoSmithKline. The stock market hasn't been kind to Sirtris, which was trading at $12, down 45% from its 52-week high. document.write("
Click here to add this page to your favorites"); via: Sirtris GSK paid $22.50/share, when Sirtris's stock was trading at $12/share, down 45% from its highest price of the previous year. The proposed acquisition of Sirtris Pharmaceuticals (SIRT) is essentially aneffort to bolster GlaxoSmithKline's (NYSE:GSK)s pipeline in the Type 2 diabetes treatmentarea. GBP11.33) per share followed by a second step merger in which any untendered Sirtris shares would be acquired at the same price per share. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. Sirtris Pharmaceuticals has established a drug discovery capability to exploit sirtuin modulation for the treatment of human disease, an approach that has the potential to generate multiple clinically and commercially important products. A high-level overview of Sirtris Pharmaceuticals (SIRT) stock. Post-acquisition, Sirtris will become part of Glaxo's drug discovery organization, while continuing to operate from laboratories in Cambridge, Mass., as an autonomous drug discovery unit. $376M. News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services Sirtris Pharmaceuticals ' first drug is a treatment for diabetes. As part of a potential partnership with GlaxoSmithKline, Sirtris suggested the British pharmaceuticals giant buy a stake for $25 per share, nearly double Sirtris's stock price at the time. Sirtris Pharmaceuticals Inc. Another hot stock is Sirtris Pharmaceuticals. //-->. Type 2 Diabetes (T2D) has reached epidemic proportions in the United States. TradingCharts.com offers over 30 thousand free stock price charts and stock market quotes. SIRTRIS PHARMA INC. Weekly Stock Prices Chart. The acquisition has been approved by the boards of both companies, and is expected to close in the second quarter. They are buying Sirtris Pharmaceuticals for $720M in cash, or $22.50/share. The planned purchase of the biopharma comes at a $10-a-share premium over Tuesday's closing price. M&A. weekly.TradingCharts.com offers over 30 thousand free stock price charts and stock market quotes. GlaxoSmithKline (GSK) - Get Report announced Tuesday after the market closed that it is buying Sirtris Pharmaceuticals (SIRT) for $720 million, or $22.50 a share. [Updated 2:25 pm ET, 3/13/13] GlaxoSmithKline is closing down Cambridge, MA-based Sirtris Pharmaceuticals, almost five years after it paid $720 million to … The company also has discovered new chemical entities that are significantly more potent activators of SIRT1 and should enter the clinic this year, according to some analysts. And Sirtris says it is close to launching clinical trials for experimental drugs that could prove to be up to 1,000 times more potent. if ((navigator.appVersion.indexOf("MSIE") > 0) && (parseInt(navigator.appVersion) >= 4)) { Under the agreement, a subsidiary of GSK will commence a cash tender offer to purchase all of the outstanding shares of Sirtris, at USD22.50 (or approx. GlaxoSmithKline (GSK) to Acquire Sirtris Pharmaceuticals, a World Leader in "Sirtuin" Research and Development for $720M 4/23/2008 LONDON, PHILADELPHIA AND … And Sirtris/GSK faces long years of rigorous research before this nook of the anti-aging field yields a marketed drug. Sirtris Pharmaceuticals™ (NASDAQ: SIRT) is a biopharmaceutical company focused on discovering and developing proprietary, orally available, small molecule drugs with the potential to treat diseases associated with aging, including metabolic diseases such as Type 2 Diabetes. Description. Sirtris is the most high-profile shop working on sirtuins and resveratrol-like pharmacology, which subject has received a massive amount of … Latest Deal Amount. Stock Symbol NASDAQ:SIRT ; Money Raised at IPO $60M; IPO Share Price $10.00; IPO Date May 23, 2007; Delisted Date Mar 13, 2013 } Big pharma companies, pained by generic competition, have turned to licensing deals and acquisitions to bolster their pipelines. Markets Data Center: Biggest Price Gainers. Sirtris Pharmaceuticals (NASDAQ: SIRT) is a biopharmaceutical company focused on discovering and developing proprietary, orally available, small molecule drugs with the potential to treat diseases associated with aging, including metabolic diseases such as Type 2 Diabetes.