Precision BioSciences in Collaboration With Novartis, Shares More Than Double
June 22 2022 - 11:57AM
Dow Jones News
By Stephen Nakrosis
Precision BioSciences Inc. shares rose Wednesday after the gene
editing company entered an exclusive worldwide in vivo gene editing
research and development collaboration and license agreement with
Novartis Pharma AG.
Precision Biosciences said it would collaborate with Novartis AG
to develop potentially curative treatment for disorders including
sickle cell disease.
Precision will receive $75 million upfront, with the potential
to receive another $1.4 billion in future payments, the company
said.
At 11:20 a.m. ET, shares of Precision Biosciences were trading
11.2% higher at $1.54 a share. Volume at the time topped 26.8
million shares, above the stock's 65-day average volume of 929,507
shares.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
June 22, 2022 11:42 ET (15:42 GMT)
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