CytomX rises on $5 mln milestone payment

CytomX Therapeutics

26/01/2023 13:53

** Shares of cancer-focused drug developer CytomX
Therapeutics  CTMX.O  rise 5% to $2.75 before the bell
    ** Co announces it achieved a clinical candidate milestone
triggering a $5 mln payment, under its agreement with Astellas
to co-develop certain therapies for treatment of cancer
    ** Achievement of clinical candidate is the first in the
multi-target collaboration - CTMX
    ** Co was eligible for over $1.6 bln milestone payments at
the time of agreement 
    ** Co also retained U.S. co-commercialization and economic
rights for select programs
    ** Stock down 40% in the past 12 months
 (Reporting by Aditya Samal)
 ((Aditya.Samal@thomsonreuters.com;))