By Stephen Nakrosis
Shares of Sangamo Therapeutics climbed after the genomic medicine company entered a licensing agreement with Eli Lilly for STAC-BBB.
The stock rose 31% to 81 cents on volume of 3.1 million shares in after-hours trading Thursday. Shares ended the day's regular session down 4.7% at 62 cents, and have fallen 39% this year.
The deal will see Lilly receive rights to employ Sangamo's proprietary capsid for up to five potential disease targets.
Under the terms of the deal, Sangamo will receive $18 million as an upfront license fee, and is eligible to receive up to $1.4 billion in additional license fees, milestone payments, and tiered royalties, the companies said.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
April 03, 2025 16:45 ET (20:45 GMT)
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