Arrowhead Pharma jumps after license agreement with Sarepta

Arrowhead Pharmaceuticals

26/11/2024 14:24

** Shares of Arrowhead Pharmaceuticals  ARWR.O  jump 23.7%
to $23.25 in premarket trading after the drug developer
announces a global license agreement with Sarepta  SRPT.O 
    ** Shares of Sarepta Therapeutics up 3.40% premarket at
$118.55
    ** ARWR says it signed a license and collaboration agreement
with Sarepta for multiple clinical and preclinical programs
    ** Arrowhead to receive $500 million upfront and $325
million equity investment, while Sarepta obtains exclusive
licenses to seven programs, Sarepta said
    ** Jefferies believes Arrowhead's rare disease programs
offer strong diversification and value creation and that the
deal will be well-received by the Street
    ** Adds that the deal also includes up to $10 billion in
milestone payments for potentially 13 programs for Arrowhead 
    ** Up to the previous session's close, Arrowhead's shares
were down 38.6%​ YTD
    
    
  

 (Reporting by Joao Manuel Mauricio)
 ((JoaoManuel.VicenteMauricio@thomsonreuters.com))