Kinnate Bio rises after selling a cancer therapy to Pierre Fabre

Kinnate Biopharma

01/03/2024 14:40

** Shares of drug developer Kinnate Biopharma  KNTE.O  rise
5.1% to $2.60 
    ** Co sells its experimental cancer therapy called
exarafenib to France-based Pierre Fabre Médicament for up to $31
mln
    ** The therapy was being tested in early and early-to-mid
stage trials
    ** KNTE will receive $500,000 upon closing of the deal, and
$30.5 mln contingent to certain milestones
    **  Stock down 50.8% in the last 12 months

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))