Autolus Therapeutics Shares Jump After Cancer-Collaboration Agreement with Bristol Myers
October 04 2022 - 8:17AM
Dow Jones News
By Sabela Ojea
Shares of Autolus Therapeutics Ltd. on Tuesday rose 14% after
the U.K. leukemia drug maker announced the signing of collaboration
agreement for the treatment of cancer with pharmaceutical company
Bristol Myers Squibb Co.
In premarket trading, the stock was up $2.49 after it closed at
$2.18 Monday. The shares have fallen more than 50% so far this
year.
The biopharmaceutical will receive an upfront payment from
Bristol Myers, with the potential to exercise option fees,
development milestone payments and royalties, the company said
without disclosing details.
Through the agreement, Autolus said it will grant Bristol Myers
access to its Rituximab Safety Switch RQR8 to develop a selection
of cell therapy programs for the treatment of cancer.
Bristol Myers will have the option to incorporate the RQR8
safety switch in additional cell therapy programs beyond the
initial set of selected programs, the company said.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
October 04, 2022 08:02 ET (12:02 GMT)
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