Werewolf Therapeutics gains as Jazz buys rights to cancer drug candidate
07/04/2022 13:04
** Shares of cancer treatment developer HOWL.O rise nearly
10% to $5.20 premarket
** Jazz Pharmaceuticals JAZZ.O acquires exclusive global
development and marketing rights to HOWL's cancer drug
candidate, WTX-613, under a licensing agreement urn:newsml:reuters.com:*:nPreQC09Ma
** JAZZ to make an upfront payment of $15 mln; HOWL is
eligible to receive milestone payments of up to $1.26 bln
** WTX-613 is currently in preclinical development and JAZZ
expects to seek U.S. FDA's nod to start clinical study of the
drug in 2023
** WTX-613 stimulates certain receptors on a type of
cancer-fighting immune cells and has potential across a wide
range of cancer types
** Stock had fallen 60.3% YTD, up to the last close
(Reporting by Amruta Khandekar)
((Amruta.Khandekar@thomsonreuters.com;))