Precision Bio shares soar on Novartis deal worth potential $1.5 billion
The stock markets took a liking to Precision BioSciences (Nasdaq: DTIL), a gene editing company developing ARCUS-based ex vivo allogeneic CAR-T and in vivo gene editing therapies, on Tuesday and Wednesday.
North Carolina-based Precision closed 10% higher on Tuesday and was up by a further double-digit percentage in pre-market trading on Wednesday.
Markets were reacting to news that Precision has entered into an exclusive worldwide in vivo gene editing research and development collaboration and license agreement with Swiss pharma giant Novartis (NOVN: VX).
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