Why Is Bellicum Stock Moving Higher On Wednesday?

Bellicum Pharmaceuticals Inc 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.