BUZZ-Rapt Therapeutics rises 60% on license deal for allergy drug

Reuters

Dec 23, 2024

BUZZ-Rapt <a href="https://laohu8.com/S/LENZ">Therapeutics</a> rises 60% on license deal for allergy drug

** Drug developer Rapt Therapeutics' RAPT.O shares rise 59.9% to $1.32 premarket

** Co enters into license agreement with China-based Shanghai Jemincare Pharmaceutical Co for an experimental allergy treatment

** Jemincare gets $35 million upfront license fee and up to $672.5 million in additional milestone payments

** The experimental treatment called RPT904 is being developed as an alternative to Novartis' NOVN.S Xolair, which is approved to treat several allergic disorders, including asthma

** As part of the deal, RAPT is granted worldwide rights excluding China, Hong Kong, Macau and Taiwan to develop and commercialize RPT904

** RAPT plans to develop RPT904 initially for food allergy, co says

** Separately, Jemincare is conducting mid-stage trials in China to treat asthma and chronic spontaneous urticaria — a skin condition

** Up to last close, stock down 96.7% YTD

(Reporting by Sneha S K)

((Sneha.SK@thomsonreuters.com;))

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20:41</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>BUZZ-Rapt <a href=\"https://laohu8.com/S/LENZ\">Therapeutics</a> rises 60% on license deal for allergy drug </title></head><body><p>** Drug developer Rapt Therapeutics' <span>RAPT.O</span> shares rise 59.9% to $1.32 premarket </p><p>** Co enters into license agreement with China-based Shanghai Jemincare Pharmaceutical Co for an experimental allergy treatment </p><p>** Jemincare <span>gets </span>$35 million upfront license fee and up to $672.5 million in additional <span>milestone </span>payments </p><p>     ** The experimental treatment called RPT904 is being developed <span>as </span>an alternative to Novartis' <span>NOVN.S</span> Xolair<span>,</span> which is approved to treat several allergic disorders, including asthma </p><p>** <span>As part of the deal</span>, RAPT is granted worldwide rights excluding <span>China</span>, Hong Kong, Macau and Taiwan to develop 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which is approved to treat several allergic disorders, including asthma ** As part of the deal, RAPT is granted worldwide rights excluding China, Hong Kong, Macau and Taiwan to develop and commercialize RPT904** RAPT plans to develop RPT904 initially for food allergy, co says ** Separately, Jemincare is conducting mid-stage trials in China to treat asthma and chronic spontaneous urticaria — a skin condition ** Up to last close, stock down 96.7% YTD  (Reporting by Sneha S K) ((Sneha.SK@thomsonreuters.com;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}