iTeos stock jumps 60% after company announces deal with GSK

iTeos stock jumps 60% after company announces deal with GSK
·1 min read

Shares of iTeos Therapeutics Inc. soared 58.5% in premarket trading on Monday after the company announced a deal with GlaxoSmithKline to develop and commercialize an experimental cancer therapy. GSK will make a $625 million upfront payment to iTeos, with an additional $1.4 billion in possible milestone payments available in the future. The immuno-oncology drug candidate is currently being tested in an open-label, Phase 1 clinical trial in patients with advanced solid tumors; as part of this deal

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