Nov 7 (Reuters) - Sierra Oncology Inc SRRA.O :
* SIERRA ONCOLOGY AND GILEAD SCIENCES AGREE ON AMENDMENTS TO ASSET PURCHASE AGREEMENT FOR MOMELOTINIB
* SIERRA ONCOLOGY INC - GILEAD TO REDUCE MOMELOTINIB COMMERCIAL ROYALTY RATES IN EXCHANGE FOR EQUITY IN SIERRA
* SIERRA ONCOLOGY INC - AMENDMENTS BECOME EFFECTIVE UPON SIERRA ONCOLOGY CLOSING A QUALIFIED FINANCING
* SIERRA ONCOLOGY INC - AMENDMENTS ALSO AFFIRM GILEAD'S SUPPORT FOR CONTINUED DEVELOPMENT OF MOMELOTINIB
* SIERRA ONCOLOGY INC - FOLLOWING CLOSING BY SIERRA OF A QUALIFIED FINANCING, GILEAD WILL BECOME A STOCKHOLDER IN SIERRA
* SIERRA ONCOLOGY INC - FOLLOWING CLOSING BY SIERRA OF A QUALIFIED FINANCING, ANNUAL ROYALTY RATES PAYABLE TO GILEAD WILL BE REDUCED
* SIERRA ONCOLOGY INC - IN CONSIDERATION FOR AMENDMENT, CO & GILEAD SCIENCES WOULD ENTER INTO A SECURITIES PURCHASE AGREEMENT
* SIERRA ONCOLOGY - WILL ELIMINATE MILESTONE PAYMENT THAT WOULD BE DUE TO GILEAD IN COMING MONTHS WITH ANTICIPATED INITIATION OF MOMENTUM PHASE 3 TRIAL
* SIERRA ONCOLOGY INC - PURSUANT TO SECURITIES PURCHASE AGREEMENT, CO WOULD ISSUE TO GILEAD SCIENCES, CO'S SHARES & A WARRANT TO PURCHASE CO'S STOCK
* SIERRA ONCOLOGY - AGREED TO AMEND ITS ASSET PURCHASE AGREEMENT WITH GILEAD SCIENCES, INC. FOR MOMELOTINIB UPON SIERRA CLOSING A QUALIFIED FINANCING
* SIERRA ONCOLOGY INC - SHARES TO BE ISSUED TO GILEAD SCIENCES WOULD BE EQUAL TO 7.5% OF CO'S OUTSTANDING SHARES, AFTERCERTAIN ADJUSTMENTS
* SIERRA ONCOLOGY INC - WARRANT WOULD BE EXERCISABLE TO PURCHASE UP TO AN ADDITIONAL 7.5% OF CO'S OUTSTANDING SHARES
* SIERRA ONCOLOGY INC - RETAINS GLOBAL COMMERCIALIZATION RIGHTS TO MOMELOTINIB, SRA737 AND SRA141