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Shares of Voyager Therapeutics Inc. VYGR,
climbed 38.9% in pre-market trading on Wednesday, after closing at a record high in the previous session, after the gene therapy company announced a license option agreement with Pfizer Inc. PFE,
which could be valued at over $ 600 million. Trading volume reached 3.9 million shares before the opening, which compares to the average of about 173,000 shares over a full day. The agreement allows Pfizer to exercise licensing options for new capsids generated from Voyager’s RNA screening technology, which would be used by Pfizer to develop, manufacture and commercialize gene therapies. As part of the deal, Voyager will receive an upfront payment of $ 30 million and is entitled to receive up to $ 20 million in exercise fees. Voyager will also be eligible to receive up to $ 580 million in milestone payments, and will be eligible to receive “mid-to-high tier royalties” based on sales of Pfizer products using the licensed capsids. The stock, which closed at a record low of $ 2.47 on Tuesday, has fallen 36.5% in the past three months while the S&P 500 SPX,
increased 0.1%.
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