Dicerna Shares Rise on Collaboration With Novo Nordisk
November 18 2019 - 11:09AM
Dow Jones News
By Colin Kellaher
Shares of Dicerna Pharmaceuticals Inc. (DRNA) rose nearly 18% on
Monday after the biopharmaceutical company said it would
collaborate with Novo Nordisk A/S (NVO) to develop therapies for
liver-related cardio-metabolic diseases.
Dicerna will a $175 million upfront payment and a $50 million
equity investment from Novo, and it is eligible for up to $357.5
million in milestone payments per target under the deal.
Dicerna late last month announced a similar deal with Roche
Holding AG (ROG.EB) focused on chronic hepatitis B virus infection
that is worth up to $1.67 billion in upfront and milestone payments
to Dicerna.
Analysts at SVB Leerink, which have an "outperform" rating on
Dicerna shares, said the deals further validate the company's
GalXC-RNAi platform and "superb execution."
Dicerna shares were recently up 17.9%, to $22.75.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 18, 2019 10:54 ET (15:54 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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