Voyager Therapeutics Shares Rise 52% After Licensing Deal With Pfizer
October 06 2021 - 11:16AM
Dow Jones News
By Chris Wack
Voyager Therapeutics Inc. shares were up 52% to $3.75 Wednesday
after the company said it has entered an agreement through which
Pfizer Inc. may exercise options to license novel capsids generated
from Voyager's RNA-driven Tracer screening technology.
The license would allow Pfizer to develop, manufacture, and
commercialize gene therapies, using two undisclosed transgenes to
treat certain neurologic and cardiovascular diseases.
Volume for the stock was 93 million shares at 10:45 a.m. ET,
compared with a 65-day average volume of 233,000 shares. The stock
hit its 52-week low of $2.46 on Tuesday.
Under the agreement, Pfizer will have the right to evaluate
novel capsids selected for central nervous system and cardiac
tropisms from Voyager's Tracer platform and to exercise options to
license capsids for exclusive use in Pfizer's development of AAV
gene therapies incorporating two undisclosed transgenes, Voyager
said. These transgenes will be distinct from those planned for
Voyager's internal pipeline.
Voyager said it will retain global rights to all licensed
capsids for use with other transgenes and to all other applications
of its Tracer technology.
Voyager said it will receive $30 million upfront and is entitled
to receive up to $20 million in exercise fees for two options,
exercisable by Pfizer within 12 months of signing. The company said
it will also be eligible to earn up to $580 million in total
development, regulatory, and commercial milestones associated with
licensed products incorporating the two undisclosed Pfizer
transgenes together with a Voyager licensed capsid. Voyager is
eligible to receive mid- to high-single-digit tiered royalties
based on net sales of Pfizer's products incorporating the licensed
capsids.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
October 06, 2021 11:01 ET (15:01 GMT)
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