2024-01-09 07:55:05 ET
Precision BioSciences ( NASDAQ: DTIL ) shares rallied 20% premarket on Tuesday after it entered into a $17.5M global licensing deal with with TG Therapeutic ( NASDAQ: TGTX ).
Under the deal, TG Therapeutics ( TGTX ) will acquire a worldwide license to develop and commercialize Precision's ( DTIL ) Azercabtagene Zapreleucel (azer-cel) cell therapy program in non-oncology indications.
Azer-cel is an allogeneic CD19 CAR T cell therapy program for autoimmune diseases and all other non-oncology indications. TG Therapeutics ( TGTX ) has near-term plans to evaluate the program in multiple autoimmune indications, with an investigational new drug filing targeted for mid-2024.
Precision, in exchange, will receive upfront and potential near-term economics valued at $17.5M. The deal also provides Precision ( DTIL ) with up to $288M in additional payments based on the achievement of certain clinical, regulatory, and commercial milestones.
Furthermore, the company is eligible to receive high-single-digit to low double-digit royalties on net sales.
More on Precision BioSciences, TG Therapeutics, etc.
- TG Therapeutics: The Revenue Beat Isn't What It Looks Like
- TG Therapeutics: Trying To Fill The Gap Back To $20
- TG Therapeutics, Inc. (TGTX) Q3 2023 Earnings Call Transcript
- TG Therapeutics spikes; to present at J. P. Morgan conference
- TG Therapeutics spikes as Merck KGaA flunks multiple sclerosis trial
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Precision BioSciences stock rises on $17.5M license deal with TG Therapeutic