Here's Why Dicerna Pharmaceuticals Jumped as Much as 22.1% Today
Shares of Dicerna Pharmaceuticals (NASDAQ: DRNA) rose over 22% today after the company announced a partnership with Novo Nordisk (NYSE: NVO). The pair will utilize Dicerna's GalXC technology to develop RNA interference (RNAi) therapies for a wide range of liver-related cardio-metabolic diseases.
The small-cap company will receive an up-front payment of $175 million, an equity investment of $50 million, and can receive up to $75 million in additional payments in the next three years. On top of all that, Dicerna Pharmaceuticals can receive up to $357.5 million in milestone payments for each drug target pursued and royalties on product sales should any drug candidates achieve commercialization.
As of 11:40 a.m. EST, the small-cap stock had settled to a 15.7% gain.
Source Fool.com
