Gilead Licenses Durect's Saber Technology for Injectable HIV Product

By Colin Kellaher

Durect Corp. (DRRX) on Monday said it granted Gilead Sciences Inc. (GILD) the exclusive worldwide rights to develop and commercialize an injectable HIV product using Durect's Saber technology.

The Cupertino, Calif., biopharmaceutical company said it will receive an upfront payment of $25 million, along with up to $145 million in potential milestone payments and royalties on product sales.

Gilead, based in Foster City, Calif., also received exclusive access to the Saber platform for HIV and hepatitis B virus and the exclusive option to license additional Saber-based products directed to HIV and hepatitis B.

Durect said it will receive an additional $150 million in milestones per product, as well as royalties on sales.

Shares of Durect, which closed Friday at 72.7 cents, jumped nearly 40% in premarket trading Monday.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

July 22, 2019 08:53 ET (12:53 GMT)

Gilead Sciences (NASDAQ:GILD)
Historical Stock Chart
From Mar 2024 to Apr 2024