[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 … © 2021 TheStreet, Inc. All rights reserved. Big pharma companies, pained by generic competition, have turned to licensing deals and acquisitions to bolster their pipelines. TradingCharts.com offers over 30 thousand free stock price charts and stock market quotes. 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. And Sirtris/GSK faces long years of rigorous research before this nook of the anti-aging field yields a marketed drug. Markets Data Center: Biggest Price Gainers. Sirtris shares closed down 4% Tuesday prior to the news, at $12.23. Sirtris Pharmaceuticals Inc. Another hot stock is Sirtris Pharmaceuticals. } 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. News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services Latest Deal Amount. CEO Christoph Westphal and the management team will continue to lead the unit. 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. SIRTRIS PHARMA INC. Weekly Stock Prices Chart. //-->. They are buying Sirtris Pharmaceuticals for $720M in cash, or $22.50/share. When I pointed at Sirtris Pharmaceuticals in February I was considering to invest in that stock but had no money left. A high-level overview of Sirtris Pharmaceuticals (SIRT) stock. 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. Sirtris is a biopharmaceutical company that's developing drugs to target a class of enzymes called sirtuins. 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. 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. Big pharma companies, pained by generic competition, have turned to licensing deals and acquisitions to bolster their pipelines. [6] Studies published in 2009 and early 2010 by scientists from Amgen and Pfizer cast doubt on whether SIRT1 was directly activated by resveratrol and showed that the apparent activity was actually due to a fluorescent reagent used in the experiments. $376M. GlaxoSmithKline today announced that it is going to acquire Sirtris (NASDAQ:SIRT) for $720 million through a cash tender offer of $22.50 per share. The planned purchase of the biopharma comes at a $10-a-share premium over Tuesday's closing price. Type 2 Diabetes (T2D) has reached epidemic proportions in the United States. Sirtris is the most high-profile shop working on sirtuins and resveratrol-like pharmacology, which subject has received a massive amount of … Sirtris Pharmaceuticals, Inc. SEC Form 4 Filed December 4, 2007: Statement of changes in beneficial ... Last Updated December 17, 2020 at 7:56 AM EST Back to Sirtris Pharmaceuticals, Inc. As followers of the drug industry know, GlaxoSmithKline famously paid $720 million to buy Sirtris Pharmaceuticals in 2008. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. Too bad, since exactly happened what I had suggested: a big player is now trying to buy the company. GlaxoSmithKline is paying big in an effort to find cures for diseases of aging. Description. Sirtris shares closed down 4% Tuesday prior to the news, at $12.23. Action Alerts PLUS is a registered trademark of TheStreet, Inc. weekly.TradingCharts.com offers over 30 thousand free stock price charts and stock market quotes. Company profile page for Sirtris Pharmaceuticals Inc including stock price, company news, press releases, executives, board members, and contact information The $22.50 per Sirtris share that GSK paid as part of the deal represented a nearly 85 percent premium to Sirtris’ stock price at the time the deal was announced.