Johnson & Johnson said in a filing that it has completed its acquisition of Firefly Bio, Inc., a biotechnology company developing a degrader antibody conjugate platform, for $1 billion in cash.
The deal expands Johnson & Johnson's oncology portfolio and its efforts to develop targeted therapies for hard-to-treat solid tumors, including KRAS-driven cancers, according to the filing.
Firefly Bio's Firelink DAC platform is designed to deliver selective protein degraders directly to cancer cells while preserving healthy tissue, the company said in the filing.
John Reed, Executive Vice President, Innovative Medicine, Research & Development at Johnson & Johnson, said the completion of the acquisition marks an important step in advancing new approaches to difficult-to-treat solid tumors and that combining Firefly Bio's technology with the company's oncology and antibody engineering expertise positions it to accelerate development of more precise therapies.
According to the filing, the transaction will be accounted for as an asset acquisition, resulting in an in-process research and development charge of approximately $1 billion in the third quarter of 2026.
Johnson & Johnson said in the filing that it expects the transaction to dilute adjusted operational earnings per share and adjusted earnings per share by approximately $0.46 in 2026 and approximately $0.08 in 2027.
The filing states that updated full-year 2026 guidance is included in the associated Current Report on Form 8-K furnished to the SEC on the date of the release.
$JNJJohnson & JohnsonPrice$271.11 ▲3.48%Net sentiment+0.04Bullish50%Mentions · 30d108Samplen=108Avg volume1.3MView on the dashboardFinazon · prior-day close · Aug 18, 2026