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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Gilead Sciences Inc | NASDAQ:GILD | 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% | 65.54 | 65.09 | 65.72 | 61 | 11:28:24 |
From May 2019 to May 2024
By Michael Dabaie
Gilead Sciences Inc. said it agreed with Jounce Therapeutics Inc., a clinical-stage company focused on cancer immunotherapies and predictive biomarkers, to exclusively license its JTX-1811 immunotherapy program.
The antibody remains on track for filing an investigational new drug application in the first half of 2021, Gilead said.
Gilead will make a $85 million upfront payment to Jounce and a $35 million equity investment at a premium, the company said. Jounce may receive up to an additional $685 million in future clinical, regulatory and commercial milestone payments, Gilead said.
Jounce will be eligible to receive royalties ranging from high single digit to mid-teens based upon worldwide sales.
Jounce will lead development of JTX-1811 through IND clearance, and thereafter, Gilead will have the sole right to develop JTX-1811.
Gilead said it expects the transaction to close in the second half of 2020.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
September 01, 2020 09:04 ET (13:04 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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