CytomX Therapeutics Up 9%; AbbVie Picks Second Target Under Collaboration
July 09 2019 - 11:55AM
Dow Jones News
By Michael Dabaie
CytomX Therapeutics Inc. (CTMX) shares were up 9% to $12.03 in
heavier-than-average volume Tuesday.
The clinical-stage oncology-focused biopharmaceutical company
said its partner AbbVie (ABBV) selected a second target under the
companies' 2016 agreement to discover and develop Probody drug
conjugates.
The target selection triggers a $10 million payment to CytomX
from AbbVie. The companies are also advancing clinical-stage asset
CX-2029 under a global co-development and licensing agreement,
CytomX said.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
July 09, 2019 11:40 ET (15:40 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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