: Voyager, Neurocrine ink gene-therapy deal
Shares of Voyager Therapeutics Inc. VYGR rallied 35% in premarket trading on Monday after the company announced a deal with Neurocrine Biosciences Inc. NBIX to develop and commercialize gene therapies, including one that is being tested as a treatment for Parkinson’s disease. Neurocrine will make a $175 million upfront payment, including a $39 million equity investment, with up to $1.5 billion in potential milestones. Voyager’s stock has soared 148.7% over the past year, while the S&P 500 SPX is down 17.0%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.