CytomX Therapeutics Up 9%; AbbVie Picks Second Target Under Collaboration

Date : 07/09/2019 @ 4:55PM
Source : Dow Jones News
Stock : AbbVie Inc (ABBV)
Quote : 76.8  1.66 (2.21%) @ 6:21PM

CytomX Therapeutics Up 9%; AbbVie Picks Second Target Under Collaboration

CytomX Therapeutics (NASDAQ:CTMX)
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By Michael Dabaie

 

CytomX Therapeutics Inc. (CTMX) shares were up 9% to $12.03 in heavier-than-average volume Tuesday.

The clinical-stage oncology-focused biopharmaceutical company said its partner AbbVie (ABBV) selected a second target under the companies' 2016 agreement to discover and develop Probody drug conjugates.

The target selection triggers a $10 million payment to CytomX from AbbVie. The companies are also advancing clinical-stage asset CX-2029 under a global co-development and licensing agreement, CytomX said.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

July 09, 2019 11:40 ET (15:40 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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