Why Autolus Therapeutics Stock Jumped 25% Today

Shares of Autolus Therapeutics (NASDAQ: AUTL) surged 25% on Monday after the biopharmaceutical company struck a deal to receive financing of up to $250 million from Blackstone Life Sciences.  

Under the terms of the deal, Blackstone agreed to buy $100 million of Autolus' American depositary shares. Additionally, Autolus would receive a $50 million upfront payment, as well as $100 million in milestone payments. The biotech said it would use this cash to fund the development and commercialization of its experimental leukemia therapy, obecabtagene autoleucel (obe-cel).

Investors cheered Blackstone's investment in Autolus Therapeutics. Image source: Getty Images.

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Source Fool.com