Gritstone Oncology Shares Rise on HIV Work With Gilead
February 01 2021 - 11:12AM
Dow Jones News
By Colin Kellaher
Gritstone Oncology Inc. shares rose nearly 8% Monday after the
biotechnology company said it will work with Gilead Sciences Inc.
to develop a therapeutic vaccine targeting human immunodeficiency
virus, or HIV.
Gristone will receive $60 million upfront from Gilead, including
$30 million in cash and a $30 million equity investment at a
premium.
The Emeryville, Calif., company is also eligible for up to an
additional $725 million in option-exercise and milestone payments,
along with royalties on sales.
Gritstone shares were recently up 7.6% to $19.47 after rising as
high as $22.04 earlier in the session.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 01, 2021 10:57 ET (15:57 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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