This Healthcare Stock is Soaring Following Exclusive License Agreement Announcement

Yolowire 19-Nov-2024 4:26 PM

A %Healthcare company based out of Pennsylvania caused quite the stir on Tuesday after the company announced that it had entered into an exclusive license agreement with Biosion Inc. for worldwide rights (excluding Greater China) to BSI-045B and BSI-502, a preclinical-stage, novel bispecific antibody directed against both TSLP and IL4R, according to a release.

Traders rushed to scoop up shares of %AclarisTherapeutics Inc. (NASDAQ:ACRS), pushing the price of this small cap to close up at $4.59/share (+46.18%) on the day. This was a strong continuation of Monday’s success.

Aclaris Therapeutics Inc is a clinical-stage %Biopharmaceutical company that operates in the United States. It focuses on developing novel drug candidates for immuno-inflammatory diseases. The company operates in two segments: therapeutics and contract research. The majority of its revenue comes from the contract research segment, which provides laboratory services. Its drug candidates under development are Zunsemetinib, which is an Oral MK2 Inhibitor; ATI-2138 is an ITJ Inhibitor; and ATI-1777.