Lava Therapeutics more than doubles after giving cancer drug license to Seagen

LAVA Therapeutics NV

26/09/2022 13:53

** LAVA Therapeutics' shares  LVTX.O  soar 110% to $5.03
premarket after giving exclusive worldwide license for
experimental cancer drug to Seagen Inc  SGEN.O   urn:newsml:reuters.com:*:nBw7M3kwa
    ** LVTX to get upfront payment of $50 million, with
potential for up to ~$650 million in milestone plus royalties
    ** SGEN shares up 1.3% at $140.99 in thin trade
    ** All five brokerages covering LVTX rate the stock "buy" or
higher; their median PT is $21.50
    ** Up to last close, stock had fallen 56% YTD
 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))