Compugen Shares Rise 18% Premarket After Bristol Myers Investment
November 11 2021 - 8:29AM
Dow Jones News
By Chris Wack
Compugen Ltd. shares rose 18% to $7.41 in premarket trading
after the company said Bristol Myers Squibb completed its $20
million investment.
Bristol Myers' investment was in consideration for the issuance
of 2.3 million Compugen shares purchased at $8.57333 a share,
representing a 33% premium over the closing price Tuesday.
A joint steering committee has been formed to oversee strategic
oversight and guidance for the programs run under the
collaboration, which will run alongside the existing joint
development committee, Compugen said.
"We value Bristol Myers Squibb's continued support of Compugen
and in our evaluation of our DNAM axis hypothesis by testing COM701
in combination with nivolumab as a dual combination and in
combination with nivolumab and BMS-986207 as a triple combination
targeting PVRIG, PD-1 and TIGIT," Compugen Chief Executive Anat
Cohen-Dayag said.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
November 11, 2021 08:14 ET (13:14 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Bristol Myers Squibb (NYSE:BMY)
Historical Stock Chart
From Aug 2024 to Sep 2024
Bristol Myers Squibb (NYSE:BMY)
Historical Stock Chart
From Sep 2023 to Sep 2024