Autolus Stock Rallies On $250M Investment From Blackstone

Blackstone Inc BX will invest $250 million in Autolus Therapeutics plc AUTL to fund the final stages of developing a new therapy to treat a form of leukemia.
Of the total investment, $150 million will support the development and commercialization of obecabtagene autoleucel, a cell therapy that targets acute lymphoblastic leukemia.
Autolus will receive $50 million of that upfront, with the rest as milestone payment.
In return, Blackstone's life-sciences unit will receive a portion of the therapy's royalties.
Related Link: Autolus Therapeutics' CAR T Cell Achieves 100% Complete Remission In Indolent B Cell Non-Hodgkin Cohort.
Blackstone will also buy $100 million worth of Autolus's American depositary shares. Blackstone will get a seat on Autolus's board.
Also Read: Autolus Stock Jumps On Cancer mRNA Therapeutics Agreement With Moderna.
Price Action: AUTL shares are up 36.1% at $7.57 during the premarket session on the last check Monday.