Hot on the heels of a successful Phase IIb trial for its experimental HIV therapy, Australia's Avexa unveiled plans to raise $75 million while publicly acknowledging that the company has become a possible takeover target. Analysts have noted that both GlaxoSmithKline and Gilead, among others, could be interested in a takeover. A number of pharma companies would like to have the nucleoside reverse transcriptase inhibitor, or NRTI, that Avexa is advancing, Aexa CEO Julian Chick told Australia's Herald Sun. Avexa's shares rocketed up 50 percent on the news of the new data.
- check out this release for details
- read the report on Avexa from the Herald Sun