RHHBY - Why Adaptimmune Therapeutics Stock Is Bolting Higher Today
Shares of the clinical-stage biotech Adaptimmune Therapeutics (NASDAQ: ADAP) popped by as much as 25% in premarket trading Tuesday morning. The cancer specialist's stock is on the move this morning in response to a licensing and collaboration agreement with Roche 's (OTC: RHHBY) subsidiary Genentech.
Per the terms of the deal, Adaptimmune will receive $150 million up front to develop and subsequently commercialize so-called "off-the-shelf" (allogeneic) cell therapies targeting multiple oncology indications. The biotech might also receive another $150 million based on various developmental, regulatory, and commercial milestones over the next five years. Lastly, Adaptimmune is in line to earn tiered royalties on the net sales of any approved products stemming from the collaboration.
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Why Adaptimmune Therapeutics Stock Is Bolting Higher Today