Precision Biosciences Received An Initial $7.5M Upfront Cash Payment And Equity Investment From TG Therapeutics For An Exclusive License To Develop Azercabtagene Zapreleucel For Autoimmune Diseases And Other Indications Outside Of Cancer
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Precision Biosciences (DTIL) has entered into an agreement with TG Therapeutics (TGTX) for the exclusive license of Azercabtagene Zapreleucel (azer-cel) for autoimmune diseases and other indications outside of cancer. Precision received an initial $7.5M, part of a total of $17.5M in upfront and near-term payments. The deal includes TG Therapeutics purchasing 2,920,816 shares of Precision common stock at $0.77 per share.
February 12, 2024 | 12:07 pm
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POSITIVE IMPACT
Precision Biosciences received a $7.5M upfront payment and equity investment from TG Therapeutics for the license of azer-cel, with a total of $17.5M in potential payments.
The upfront payment and equity investment from TG Therapeutics provide immediate financial benefits to Precision Biosciences. The total potential payments of $17.5M, along with the equity purchase, indicate a strong partnership and potential for future revenue from the licensed technology. This is likely to be viewed positively by investors, potentially leading to a short-term increase in DTIL's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
TG Therapeutics made an upfront payment and equity investment in Precision Biosciences for the exclusive license of azer-cel for autoimmune diseases and other indications outside of cancer.
TG Therapeutics' investment in Precision Biosciences and the acquisition of exclusive rights to azer-cel for indications outside of cancer represent a strategic expansion of its portfolio. This move could potentially open new revenue streams and markets for TGTX, which might be viewed positively by investors. The equity investment also signifies a commitment to the partnership and the technology, potentially leading to a short-term positive impact on TGTX's stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90