(24/7 MARKET NEWS) – CytomX Therapeutics, Inc. (NASDAQ: CTMX) and Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) will form a strategic research collaboration, in the field of Conditional Bispecific Therapeutics for the treatment of cancer, to enable the development of investigational next-generation bispecific immunotherapies using CytomX’s Probody and Regeneron’s Veloci-Bi platforms
The agreement terms include CytomX receiving a $30 million upfront payment that can potentially grow up to $2 billion in research, development, regulatory and sales-based milestones.
CytomX is trading in this morning’s premarket at $1.37, 16 cents higher (+13.22%), on nearly 500 thousand shares.
Regeneron is trading in this morning’s premarket at $735.67, up $6.94 (+0.95%), on over 500 thousand shares.
CytomX’s 52-week range is $ 1.17 to $7.4598, with its next inflection points at $1.39, $1.47, and $1.57.
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