: Kronos Bio’s stock rallies after announcing drug-discovery deal with Roche

Shares of Kronos Bio Inc. KRON jumped 25% in premarket trading on Monday after the company announced a development deal with Roche Holding’s CH:ROG Genentech. Kronos has a drug discovery platform that will be used to support Genentech’s research in small-molecule drugs for cancer. As part of the agreement, Roche will pay $20 million upfront, with milestone payments worth up to $554 million. Kronos’ stock has declined 86.4% over the past 12 months, while the S&P 500 SPX is down 17.0%.

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