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U.S. stock market anomaly | Prime Medicine soared about 45%, signed a research collaboration and license agreement with bristol-myers squibb.
September 30th, Gelonghui | Prime Medicine (PRME.US) surged by about 45%, reaching a peak of $5.02. On the news front, Prime Medicine signed a research collaboration and licensing agreement with Bristol-Myers Squibb, agreeing to jointly develop and commercialize multiple therapies. According to the agreement, Bristol-Myers Squibb will invest $55 million to purchase Prime's equity, and Prime will receive a $55 million upfront payment. Once certain sales and development milestones are reached, the upfront payment could exceed $3.5 billion.
Sector Update: Health Care Stocks Steady Premarket Monday