Stock price surges as company expands into autoimmune diseases
- TG Therapeutics to acquire global license for a CAR T cell therapy program for autoimmune diseases
- Stock price of TG Therapeutics rallies 11% after announcement
- Azer-cel is an allogeneic CAR T program to be evaluated in multiple autoimmune indications
- Precision BioSciences to receive upfront and near-term payments valued at $17.5 million
- Additional payments of up to $288 million based on reaching milestones
- Precision BioSciences stock down 1.9% premarket
TG Therapeutics has announced its agreement to acquire a global license for Precision BioSciences’ Azercabtagene Zapreleucel (azer-cel), a CAR T cell therapy program for autoimmune diseases. The allogeneic CAR T program will be evaluated in multiple autoimmune indications, with an investigational new drug filing targeted for mid-2024. Under the deal, Precision BioSciences will receive upfront and near-term payments valued at $17.5 million, as well as additional payments of up to $288 million based on reaching clinical, regulatory, and commercial milestones. TG Therapeutics’ stock price rallied 11% following the announcement, while Precision BioSciences’ stock was down 1.9% premarket.
Public Companies: TG Therapeutics Inc. (TGTX), Precision BioSciences Inc. (DTIL)
Private Companies:
Key People:
Factuality Level: 8
Justification: The article provides specific details about the agreement between TG Therapeutics and Precision BioSciences, including the upfront and near-term payments, equity investments, and milestones. The information appears to be factual and based on statements from the companies involved.
Noise Level: 7
Justification: The article provides information about TG Therapeutics’ agreement with Precision BioSciences to acquire a worldwide license for a CAR T cell therapy program. It includes details about the upfront and near-term payments, as well as potential future payments and royalties. However, the article lacks analysis of long-term trends or antifragility, and it does not hold powerful people accountable or explore consequences. It also does not provide scientific rigor or actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: TG Therapeutics Inc. and Precision BioSciences Inc.
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses a licensing agreement between TG Therapeutics Inc. and Precision BioSciences Inc. for a CAR T cell therapy program. There is no mention of an extreme event in the article.
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