Athenex Inc to buy Kuur Therapeutics; shares soar
05/05/2021 11:28
** Shares of drugmaker Athenex Inc ATNX.O soar nearly 52%
to $5.63 premarket, above their 50-day moving avg price of $5.18
** Stock is the top pct gainer across U.S. exchanges
premarket
** ATNX acquires cancer therapy developer Kuur Therapeutics
Inc for potentially up to $185 mln urn:newsml:reuters.com:*:nGNX8Kbtl7
** Deal consists of $70 mln upfront payment primarily in
ATNX common stock and $115 mln in development milestones - ATNX
** Kuur's technology combined with ATNX's T-cell based
therapy development program could propel ATNX into a leadership
position in cell therapy - CEO
** ATNX had fallen 66.5% YTD
(Reporting by Amruta Khandekar)
((Amruta.Khandekar@thomsonreuters.com;))