Jounce Therapeutics Inc. shares jumped more than 70% in after-hours trading Tuesday, following an announcement that Gilead Sciences Inc. would completely...
Jounce Therapeutics Inc.
Eshares jumped more than 70% in after-hours trading Tuesday, following an announcement that Gilead Sciences Inc. Dwould completely acquire rights to an immunotherapy drug from Jounce. Gilead said it would buy out its remaining obligations under a licensing agreement executed in 2020 between the two companies and acquire intellectual property and rights to the cancer treatment, known as GS-1811. Jounce will receive $67 million, and Gilead will be solely responsible moving forward for the drug, which is in Phase 1 clinical development for treatment of solid tumors. “It was important for Jounce...
E shares jumped more than 70% in after-hours trading Tuesday, following an announcement that Gilead Sciences Inc. D would completely acquire rights to an immunotherapy drug from Jounce. Gilead said it would buy out its remaining obligations under a licensing agreement executed in 2020 between the two companies and acquire intellectual property and rights to the cancer treatment, known as GS-1811. Jounce will receive $67 million, and Gilead will be solely responsible moving forward for the drug, which is in Phase 1 clinical development for treatment of solid tumors.
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