Compugen jumps on Bristol Myers Squibb's $20 mln investment

Compugen

11/11/2021 12:54

** U.S.-listed shares of Israel-based drug developer
 CGEN.O  rise 18.8% to $7.46 in heavy premarket trading
    ** CGEN says Bristol Myers Squibb  BMY.N  bought roughly $20
mln worth of co's shares for price of $8.57/shr, a ~36% premium
to Wednesday's closing price  urn:newsml:reuters.com:*:nPnnSzSFa
    ** CGEN says BMY bought 2.3 mln shares, less than 3% of
CGEN's outstanding shares 
    ** The cos in 2018 signed a clinical trial collaboration to
develop CGEN's experimental cancer drug along with Bristol
Myers' blockbuster therapy Opdivo 
    ** More than 1 mln CGEN shares traded before the bell, more
than 1.3x their 25-DMA 
    ** Up to Wednesday's close, stock had nearly halved YTD 

 (Reporting by Manas Mishra)
 ((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manasmishra24))