Vertex Subsidiary To Commence Cash Tender Offer To Purchase All Outstanding Shares Of Alpine Common Stock

Author: Benzinga Newsdesk | April 10, 2024 04:05pm

The transaction is expected to close in the second quarter of 2024. Alpine's lead molecule, povetacicept (ALPN-303), is a highly potent and effective dual antagonist of BAFF (B cell activating factor) and APRIL (a proliferation inducing ligand). Through Phase 2 development, povetacicept has shown potential best-in-class efficacy in IgA nephropathy (IgAN). IgAN is a serious, progressive, autoimmune disease of the kidney that can lead to end-stage-renal disease. There are no approved therapies that target the underlying cause of IgAN.  Povetacicept is on track to enter Phase 3 clinical development in the second half of 2024.

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