BioMarin Shares Jump After $275 Million Deal to Acquire Alesta Therapeutics

BioMarin Shares Jump After $275 Million Deal to Acquire Alesta Therapeutics

Fiona Craig

Tue, August 18, 2026 at 4:41 PM GMT+3 2 min read

• BMRN +3.49%

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) shares climbed 4.7% in premarket trading on Tuesday after the company agreed to acquire Alesta Therapeutics in a deal that expands its pipeline of treatments for rare genetic diseases.

BioMarin will pay $275 million upfront for Alesta, with the agreement providing for up to an additional $215 million if specified development and regulatory milestones are achieved.

The transaction gives BioMarin control of ALE1, Alesta's lead clinical-stage programme and a potential oral treatment for hypophosphatasia, or HPP.

ALE1 Could Offer First Oral Treatment for HPP

ALE1 is an orally active small molecule being developed for HPP, a rare inherited bone disorder caused by mutations in the ALPL gene.

The candidate is currently undergoing a Phase 1/2a clinical trial examining its safety, tolerability and pharmacokinetic and pharmacodynamic characteristics in healthy volunteers and adults diagnosed with HPP.

If successfully developed and approved, ALE1 could become the first oral therapy available for the condition, potentially providing patients with an alternative to existing injectable treatments.

HPP interferes with the mineralisation of bones and teeth and can lead to repeated fractures and premature tooth loss. Adults with the disease may also experience muscle weakness, fatigue and pain.

More than 9,000 people in the United States have been diagnosed with HPP, although the condition is believed to remain underdiagnosed.

Alesta to Separate Remaining Assets Before Deal Closes

As part of the transaction structure, Alesta will transfer all assets unrelated to ALE1 into a newly created company before completion of the acquisition.

Alesta's employees will move to that spinout business, meaning no members of the Alesta workforce will transfer to BioMarin under the agreement.

The boards of directors of both companies have approved the transaction.

BioMarin to Fund Acquisition With Existing Cash

BioMarin plans to finance the $275 million upfront payment using cash already on its balance sheet.

The acquisition is expected to close during the current quarter, subject to customary closing conditions. BioMarin intends to issue updated full-year 2026 guidance once the transaction has been completed.

Excluding the upfront acquisition payment, the company expects the transaction to have a modestly dilutive effect on its 2026 financial results.

The positive premarket reaction suggests investors are focusing on the strategic potential of ALE1 and its possible role in strengthening BioMarin's rare-disease portfolio.

BioMarin Pharmaceutical stock price