LAVA Therapeutics rises after getting milestone payment from Pfizer

LAVA Therapeutics NV

05/03/2024 13:29

** Shares of drug developer LAVA Therapeutics  LVTX.O  rise
10.2% to $3.34 premarket
    ** Company says it has received a milestone payment of $7
mln from Pfizer  PFE.N  as its experimental cancer drug
PF-08046052 entered into early-stage trials 
    ** LVTX had given exclusive license for the drug to Seagen
in 2022, which was acquired by PFE last year
    ** LVTX received $50 mln upfront payment and is eligible to
receive up to ~$650 mln in milestone plus royalties
    ** Up to last close, stock up 24.2% in the last 12 months

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