C4 Therapeutics rises on license agreement with Merck KGaA
04/03/2024 12:54
** Shares of drug developer C4 Therapeutics CCCC.O rise
2.27% to $11.24 premarket
** Co says it has entered into a license and collaboration
agreement with Merck KGaA MRCG.DE to discover two drugs that
target cancer causing proteins
** Under the deal, C4 to receive an upfront payment of $16
mln with the potential to receive up to about $740 mln in
milestone payments
** Merck KGaA, will be responsible for clinical development
and commercialization for drug candidates coming out of these
programs - C4
** Up to last close, stock more than doubled in the last 12
months
(Reporting by Sneha S K in Bengaluru)
((Sneha.SK@thomsonreuters.com;))