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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Amgen Inc | NASDAQ:AMGN | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -11.44 | -3.68% | 299.85 | 299.78 | 299.94 | 312.73 | 297.52 | 310.88 | 2,609,503 | 18:38:23 |
From Nov 2023 to May 2024
By Ben Glickman
Shares of Xeris Biopharma rose Wednesday after the company reached a license agreement with Amgen involving its XeriJect technology.
The stock was up 12% to $2.67 in morning trading. Shares have more than doubled in the last year.
Amgen shares were roughly flat in morning trading.
Chicago-based Xeris said Wednesday morning that Amgen would develop, manufacture and commercialize a subcutaneous formulation of teprotumumab to treat Thyroid Eye Disease.
Under the exclusive worldwide license deal, the new formulation will use Xeris' XeriJect technology.
Xeris may get up to $75 million in development and regulatory milestones, as well as sales-based milestones and "escalating single-digit royalties."
Amgen owns teprotumumab, which goes by brand name Tepezza, after closing its $27.8 billion acquisition of Horizon Therapeutics.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
January 10, 2024 09:57 ET (14:57 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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