CytomX surges on $35 mln licensing deal with Moderna

CytomX Therapeutics

05/01/2023 22:46

** Shares of drug developer CytomX Therapeutics Inc  CTMX.O 
up about 62% at $2.9 after the bell
    ** CTMX announces a licensing deal with Moderna Inc  MRNA.O 
to develop certain investigational messenger RNA-based therapies
    ** CytomX to receive $35 mln upfront payment and will be
eligible for about $1.2 bln in future milestone payments
    ** Co to also get tiered royalties from Moderna on global
sales of any products which enter the market under the agreement
    ** Deal provides Moderna with option to participate in a
future equity financing by CytomX 
    ** As of last close, CTMX down about 60% in the last 12
months 
 (Reporting by Vansh Agarwal in Bengaluru)
 ((Vansh.Agarwal@thomsonreuters.com;))