Shares of Intellia Therapeutics Inc. (NTLA) are rising over 17% in pre-market today, after the company announced that it expanded collaboration to provide Regeneron with rights to develop products for additional in vivo CRISPR/Cas9-based therapeutic targets and for the companies to jointly develop potential products for the treatment of hemophilia A and B.
Regeneron also receives non-exclusive rights to independently develop and commercialize ex vivo gene edited products. Further, Intellia noted that it would receive an upfront payment of $70 million, and Regeneron would make an additional equity investment in Intellia of $30 million at $32.42 per share.
The stock has been trading in the range of $9.18 – $21.63 for the past one year, and closed Friday’s trade at $17.51, down 1 cent or 0.06%. NTLA is currently trading at $20.50, up $2.99 or 17.08% in the pre-market session.
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