Precision BioSciences rises on license deal to develop cancer therapy

TG Therapeutics

09/01/2024 12:44

** Gene editing company Precision BioSciences'  DTIL.O 
shares rise 13.5% to $0.45 premarket
    ** Company announces license deal with TG Therapeutics
 TGTX.O  to develop its cell therapy azercabtagene zapreleucel
(azer-cel), for autoimmune diseases and other indications
outside of cancer
    ** DTIL to receive $17.5 mln in upfront and near-term
payments with potential for up to $288 mln in other milestone
payments
     ** The upfront and near-term cash payments expected to
extend DTIL's cash runway into the first half of 2026
    ** Azer-cel is an allogeneic CAR-T therapy, which are
therapies that involve extraction of a type of white blood cells
or T-cells, re-engineering them to attack cancer and infusing
them back in the body
    ** Shares of TGTX were down 8.9%
    ** DTIL shares fell 69.3% in 2023

 (Reporting by Sneha  S K)
 ((Sneha.SK@thomsonreuters.com))