Beam climbs on Lilly deal for opt-in rights to gene-editing program

Beam Therapeutics

31/10/2023 12:40

** Shares of Beam Therapeutics  BEAM.O  rise ~10.2% to
$21.05 premarket
    ** Co says Eli Lilly  LLY.N  will acquire BEAM's opt-in
rights to co-develop and co-commercialize Verve Therapeutics'
 VERV.O  cardiovascular gene-editing therapy programs in
potential $600 mln deal
    ** BEAM will receive $200 mln in upfront payment, $50 mln in
equity investment and is also eligible to receive $350 mln in
milestone payments 
    ** Up to last close, shares down about 51% YTD

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))