Personalis, Tempus Enter Strategic Collaboration To Advance Cancer Testing
Portfolio Pulse from Benzinga Newsdesk
Personalis, Inc. and Tempus have entered into a strategic collaboration to advance cancer testing. Tempus will provide up to $12 million to Personalis to fund clinical evidence development for NeXT Personal Dx. In return, Personalis will compensate Tempus for services and grant warrants for about 9.2 million shares of Personalis' common stock over 24 months.
November 28, 2023 | 9:28 pm
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Personalis, Inc. has formed a strategic partnership with Tempus, which includes funding of up to $12 million for clinical development and warrants for Tempus to purchase Personalis stock.
The strategic collaboration with Tempus is likely to have a positive short-term impact on Personalis' stock (PSNL) due to the infusion of up to $12 million, which can accelerate the development of NeXT Personal Dx. The deal also implies a vote of confidence from Tempus in Personalis' technology and future prospects. However, the issuance of warrants could dilute existing shareholders' equity, which is a factor to consider.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90