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Why Regenxbio Stock Is Way Up Today

TheMotleyFool

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Regenexbio (NASDAQ: RGNX) stock is shooting higher after the clinical-stage biotech signed a new collaboration deal with AbbVie (NYSE: ABBV), a giant global pharmaceutical company. Investors happy with the generous terms of the deal pushed Regenexbio shares 25.6% higher as of 2:06 p.m. EDT on Monday.

License and royalty revenue from Novartis regarding Zolgensma isn't nearly enough to fuel Regenexbio's ambitious development pipeline. Today's deal with AbbVie, though, gives the company a lot more cash to work with.

Image source: Getty Images.

Source Fool.com

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