Precision BioSciences up on completing cancer therapy agreement with Imugene

Imugene

16/08/2023 11:10

** Shares of Precision BioSciences  DTIL.O  rise 21.6% to
$0.64 premarket
    ** Drug developer has completed transaction with Imugene
Limited  IMU.AX  for global rights of its lead cancer therapy 
    ** Under the agreement, DTIL to receive $227 million in
upfront and milestone payments
    ** Upfront cash and reduced operating expenses extend DTIL's
cash runway through Q3 2025 
    ** Up to Tuesday's close, stock had fallen ~55% YTD

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))