2008.04.01 - CEGE

Pre-market:

CEGE - +36% gap a pre-marketben...

A hír:

"(RTTNews) - Cell Genesys (CEGE) jumped in pre-market trading, up about 36 percent. The steep spike upward came after the company entered into a global alliance with Takeda Pharma.

The stock was up 85 cents around 8:15 am ET, climbing to $3.20. If pre-market gains hold, the stock will open at its highest level since late February.

Cell Genesys and Takeda Pharma announced that they have formed a global alliance for the development and commercialization of GVAX immunotherapy for prostate cancer, Cell Genesys' product candidate currently in Phase 3 clinical development.

Under the agreement, in exchange for exclusive worldwide commercial rights to GVAX immunotherapy for prostate cancer, Takeda will pay Cell Genesys an upfront payment of $50 million and additional milestone payments totaling up to $270 million relating to regulatory approval and commercialization of GVAX immunotherapy for prostate cancer in the United States, European Union and Japan.

Takeda will pay Cell Genesys tiered, double-digit royalties based on net sales of GVAX immunotherapy for prostate cancer in the United States and flat double-digit royalties based on net sales of the product in all other regions.

Takeda will pay for all external development costs associated with the ongoing Phase 3 clinical development of GVAX immunotherapy for prostate cancer and will also pay for all additional development costs and all commercialization costs."

ITMN - +33% gap...

Market open:

A CEGE és az ITMN nagy gap-el való kezdés utén visszaestek, majd visszapattantak. Az indexek erős felfelé mozgásba lendültek.

Market closed