Cyclerion Therapeutics: Up on licensing deal for kidney disease drug

Korsana Biosciences

04/06/2021 13:41

** Shares of biopharmaceutical co  CYCN.O  rise 4% to $3.36
premarket 
    ** Co signs global licensing deal with Akebia Therapeutics;
Akebia gets license for CYCN's kidney disease drug, praliciguat
 urn:newsml:reuters.com:*:nGNX7Nrt5g
    ** CYCN eligible for future payments of up to $585 mln under
the deal
    ** CYCN also announces $18 mln capital raise through a
private placement of shares  urn:newsml:reuters.com:*:nASA029NV
    ** Stock up 5.6% YTD, as of last close

 (Reporting by Ambar Warrick in Bengaluru)
 ((Ambar.Warrick@thomsonreuters.com; +91-80-6182-2837; Reuters
Messaging: ambar.warrick.thomsonreuters.com@reuters.net;
Twitter: @AmbarWarrick))