G1 Therapeutics climbs on licensing deal for radioprotective drug

G1 Therapeutics

22/05/2024 12:30

** Shares of cancer therapy developer G1 Therapeutics
 GTHX.O  rise ~4% to $4.71 premarket
    ** G1 will partner with Deimos Biosciences on a global
licensing agreement, which excludes the Asia-Pacific region, for
drug lerociclib for radioprotective uses 
    ** Radioprotective drugs help to protect healthy tissue from
some side effects caused by radiation therapy
    ** G1 is expected to receive common stock representing 10%
of Deimos' outstanding equity capitalization, in addition to a
20% royalty on aggregate annual net sales of lerociclib
    ** Up to last close, GTHX was up 48.5% YTD

    

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