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Why Is Bellicum Stock Moving Higher On Wednesday?

Benzinga · 09/01/2021 09:01
  • Bellicum Pharmaceuticals Inc (NASDAQ:BLCM) and The University of Texas MD Anderson Cancer Center have announced a global option and license agreement for Bellicum's CaspaCIDe (inducible caspase-9, or iC9) safety switch, and rimiducid, an agent used to activate the safety switch. 
  • Under this agreement, MD Anderson will have the option to incorporate CaspaCIDe into certain cellular therapy programs.
  • Bellicum's CaspaCIDe safety switch may facilitate the use of cell therapies where cytokine release syndrome and neurotoxicities have been observed in pursuit of novel targets with on-target/off-tumor safety concerns.
  • On exercising each option, Bellicum will receive an upfront payment and will be entitled to a percentage of certain consideration paid to MD Anderson by the third party. 
  • Bellicum also will receive a single-digit-percent royalty on global sales of the product. 
  • Additional details of the financial arrangements are not disclosed. 
  • Bellicum and MD Anderson have agreed on the first two programs for development concurrent with the execution of the agreement. 
  • Related Content: Bellicum Reported First Use Of iC9 Safety Switch.
  • Price Action: BLCM shares are up 15.8% at $3.51 during the premarket session on the last check Wednesday.