SRRA—We could be missing something with respect to the capital structure such as a large number of derivatives. If I followed the company, I would know the answer :- )
Sierra Oncology, Inc…today announced the signing of a clinical supply agreement with Janssen Research & Development, LLC. (Janssen) for access to TESARO's ZEJULA (niraparib)… Sierra intends to evaluate its Chk1 inhibitor, SRA737, in combination with niraparib in patients with metastatic castration-resistant prostate cancer (mCRPC).
In other words, JNJ is furnishing TSRO’s Zejula to SRRA at a (greatly) reduced price. JNJ, who is conducting its own combination trials with Zejula, presumably has an interest in seeing the results of SRRA’s trial. SRRA is nevertheless down 7% today.