Personalis (PSNL) was surging early in Thursday's regular trading session, climbing almost 26%, after the cancer genomic testing and analytics company disclosed a $50 million investment from Merck (MRK) and a multiyear extension agreement with Moderna (MRNA).
Merck will buy around 14 million Personalis shares at $3.56 apiece, matching Wednesday's closing price and providing Merck with roughly 16.5% of the company's outstanding stock, Personalis said.
Personalis said it also extended its collaboration with Moderna to use the company's ImmunoID NeXT tumor-profiling platform to assist with the testing of V940/mRNA-4157 individualized neoantigen therapy being developed jointly by Moderna and Merck. Financial details of the extended agreement weren't provided.
Price: 4.47, Change: +0.91, Percent Change: +25.56
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