Can This Tiny Biotech Stock Pay Off Big for Celgene?
Celgene Corp (NASDAQ: CELG) loves cozying up to emerging biotech stocks working on next-generation medicine, and one of those collaborations is with Jounce Therapeutics (NASDAQ: JNCE). Celgene inked a research-collaboration deal with Jounce in July 2016, handing over $225 million up-front to gain rights to Jounce's research into immune-oncology drugs, plus $36 million as an equity investment.
Will that end up being money well spent? We'll get insight early in 2018.
Jounce Therapeutics is in the phase 2 study portion of their phase 1/2 study of JTX-2011, a monoclonal antibody that binds to and activates the Inducible T cell CO-Stimulator (ICOS), a protein on the surface of certain T cells that may stimulate an immune response against cancer.
Source: Fool.com
