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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Cellectis SA | NASDAQ:CLLS | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.24 | 3.05 | 3.11 | 0 | 10:46:41 |
By Colin Kellaher
Shares of Cellectis took flight in premarket trading Wednesday after the clinical-stage biotechnology company inked a lucrative research collaboration and investment agreement with drug giant AstraZeneca.
Under the agreement, Cellectis said it will receive an upfront payment of $25 million and an initial equity investment by AstraZeneca of $80 million at $5 a share, more than five times Tuesday's closing price of 97 cents.
The investment will give AstraZeneca roughly 22% of Cellectis' share capital and 21% voting rights.
Cellectis said it also signed a memorandum of understanding for an additional $140 million equity investment from AstraZeneca.
Cellectis said the collaboration will use its gene-editing technologies and manufacturing capabilities to design novel cell- and gene-therapy candidates.
The company said it will be eligible to receive an investigational new drug option fee and development, regulatory and sales-related milestone payments ranging from $70 million to $220 million for each of 10 candidate products, along with royalties on sales.
Cellectis shares were recently up nearly 160% to $2.51 in premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 01, 2023 07:37 ET (11:37 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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