Biotech Bid Up Before Opening Bell

Yolowire 9-Jan-2024 9:59 AM

A North Carolina-based biotech firm is turning heads so far Tuesday morning after it was announced a strategic transaction with TG Therapeutics Inc. (NASDAQ:TGTX) for an exclusive license to develop Azercabtagene Zapreleucel (azer-cel) for autoimmune diseases, and other indications outside of cancer, according to the release.

Traders were extremely excited about the news as shares of Precision BioSciences Inc. (NASDAQ:DTIL) got aggressively bid up right before the opening bell, with traders currently willing to buy shares of the micro cap at $0.4563/share (+14.65% implied open for sellers) at the time of writing. It should be an exciting session for this biotech!

Precision BioSciences Inc is a genome editing company dedicated to improving life through its genome editing platform, %ARCUS. It leverages ARCUS in the development of its product candidates, which are designed to treat human diseases and provide food and agricultural solutions. The company's segments include Therapeutics and Food out of which the Therapeutics segment act as a key revenue driver for the firm.

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