iTeos Therapeutics Stock Surges On $2.1B Development Pact For EOS-448 With GSK

  • iTeos Therapeutics ITOS and GlaxoSmithKline plc GSK have agreed to co-develop and co-commercialize EOS-448, an anti-TIGIT monoclonal antibody.
  • Under the terms of the collaboration agreement, iTeos will receive an upfront payment of $625 million.
  • iTeos will be eligible to receive up to an additional $1.45 billion in milestone payments.
  • On top of the upfront, GSK says it will share the R&D tab with iTeos for EOS-448. The same goes with commercialization in the U.S., which will be a joint effort with profits split equally, while GSK takes total responsibility outside the U.S. and pledges tiered royalties.
  • TIGIT is among three known checkpoints on this axis, according to the company. They’ve already been developing a CD96 drug (GSK’608) through a collaboration with 23andMe and brought in a PVRIG therapy (GSK’562) via Surface Oncology Inc SURF.
  • EOS-448 is currently in phase 1 dose-finding trial in patients with advanced solid tumors.
  • GSK and iTeos plan to start combination studies of EOS-448 with Jemperli (dostarlimab) in 2022.
  • Price Action: ITOS shares are up 52.2% at $30.48, and GSK stock is up 0.05% at $40.17 during the premarket session on the last check Monday.
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