This story is from Endpoints and since Zenith is actively trialing ZEN-3694 with Pfizer's Talazoparib for metastic triple negative breast cancer, I thought it was an interesting example of the money big pharma will pay for successful cancer compounds.

Just a reminder of the irons Zenith has in the fire all with Pfizer:

1. Phase 2 mCRPC- ZEN-3694 + Enzalutamide.  July 29 NR
2. Phase 2 mCRPC- Merck/Keytruda/pembrolizumab + Pfizer/Enzalutamide/Xtandi +ZEN-3694.  Led and paid for by UCSF.
3. Phase 2 TNBC- ZEN-3694 + talazoparib.  Phase 1b complete and moving to phase 2.
4. Trial design - ER+ Breast cancer.  ZEN-3694 + Pfizer's Palbociclib?  My guess here.  Zen-3694 is shown to be highly synergistic with Pfizer's palbociclib compound.

Phase 1 is about safety.  How much drug can be safely administered with minimal adverse effects.  Sample sizes are generally small and efficacy is not necessarily a primary endpoint.  

Phase 2 is about efficacy and demonstrating the drug does whatever its supposed to.  In Zenith's case, preferably shrink tumors and reverse the effects of cancer. 

Phase 2 is where things get exciting and we find out if we have something of value.  Zenith has 3 trials in Phase 2.  With Covid likely slowing everything down, I think this play will test everyone's patience.  Imo, a successful phase 2 result will give Zenith enough credibility to either go public so we can monetize our shares or for Pfizer to step up and buy us out.  Of any potential suitor, Pfizer will have all the inside info as they are our partner in all our trials.

Good luck, two more years in my opinion.

https://endpts.com/deal-hungry-gilead-nears-a-20b-pact-to-buy-immunomedics-and-its-prospective-blockbuster-cancer-drug-trodelvy-wsj/

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UPDATED: Gilead CEO Dan O'Day's $21B M&A deal to buy Immunomedics gets some harsh reviews

John Carroll

Editor & Founder

After a wild, 4-year roller coaster ride, ImmunoMedics $IMMU is getting its fairy-tale ending after all.

Sunday evening Gilead $GILD put the weekend rumors to rest and announced its agreement to buy out the company for $21 billion, which gives the big biotech Trodelvy, newly approved for metastatic triple negative breast cancer. That’s big money for a single-drug deal. Four years ago Immunomedics’ stock sold for about $2 a share. It closed Friday at $42.25, and Gilead is paying $88.

The drug comes with a peak sales estimate of $4 billion a year from Cowen and a golden ticket for a company like Gilead looking to become an overnight contender in the oncology market. Immunomedics closed on Friday with a market cap of $9.8 billion, leaving Gilead willing to pay a 100%-plus premium — which almost certainly indicates a brisk bidding war.