Codex DNA rises on research and license deal with Pfizer

Telesis Bio

29/12/2021 15:14

** Shares of synthetic biology co Codex DNA  DNAY.O  up ~10%
at $7.40 
    ** Co enters into a research collaboration and license
agreement with Pfizer Inc  PFE.N  to develop Codex DNA's BioXP
platform and use it to "produce certain materials of interest to
Pfizer" (https://bit.ly/3JqgZ9w)
    ** Under the deal, PFE to make an upfront payment of $8 mln
to co
    ** Co eligible to get an additional $10 mln in near-term
milestone payments 
    ** In addition, Pfizer will make payments – on Codex DNA
meeting certain clinical and sales milestones – that could
potentially go upwards of $180 mln
    ** Provided the deal remains in place, PFE to also pay
escalating royalties from low to mid-fraction of one percent of
net sales of products 
    ** Codex DNA had $109.8 mln in cash and cash equivalents, as
of Sept.30
    ** Including session moves, DNAY stock down ~60% since its
June 18 debut 

 (Reporting by Oishee Majumdar in Bengaluru)
 ((oishee.majumdar@thomsonreuters.com;))