Here's Why Intellia Therapeutics Gained as Much as 18.0% Today
Shares of Intellia Therapeutics (NASDAQ: NTLA) rose as much as 18% today after the company announced an expansion of its partnership with Regeneron Pharmaceuticals (NASDAQ: REGN).
The pair will jointly develop drug candidates to treat hereditary blood disorders hemophilia A and hemophilia B. Additionally, Regeneron Pharmaceuticals will gain rights to develop drug candidates using both in vivo (inside the body) and ex vivo (outside the body) drug candidates and delivery tools developed by Intellia Therapeutics.
The gene editing pioneer will earn a combined up-front payment of $100 million in cash and equity. It ended March 2020 with roughly $250 million in cash. As of 11:05 a.m. EDT, the pharma stock had settled to a 12.1% gain.
Source Fool.com
