iTeos Therapeutics rises on cancer treatment tie-up with GSK

iTeos Therapeutics

14/06/2021 13:32

** Drug developer's shares  ITOS.O  jump 48.2% to $29.69
premarket
    ** Co and London-listed GlaxoSmithKline  GSK.L  report deal
to make and sell ITOS' potential cancer treatment together
    ** ITOS to get $625 mln upfront payment, eligible for $1.45
bln more if programme meets certain milestones
    ** Co also eligible for royalty payments on sales outside
U.S.; two cos to share costs of development and profits in U.S
    ** Deal to develop EOS-448, a monoclonal antibody using an
anti-TIGIT agent that showed promise in early studies 
    ** EOS-448 currently being tested in early-stage study in
patients with advanced solid tumors 
    ** Cos plan to start combination studies of EOS-448 with
GSK's cancer drug, dostarlimab, in 2022
    ** ITOS stock down ~41% YTD, as of last close

 (Reporting by Vishwadha Chander in Bengaluru)
 ((Vishwadha.Chander@thomsonreuters.com;))