Werewolf Therapeutics Shares Jump On Cancer Product Pact With Jazz Pharma

Jazz Pharmaceuticals plc JAZZ has acquired exclusive global development and commercialization rights to Werewolf Therapeutics Inc's HOWL WTX-613.
WTX-613 is a differentiated, conditionally-activated interferon-alpha (IFNα) INDUKINE molecule.
"We believe WTX-613 has the potential to minimize the toxicity associated with systemic IFNα therapy, preferentially delivering IFNα to tumors, and thereby expanding its clinical utility in treating cancer," said Rob Iannone, executive vice president, global head of R&D of Jazz Pharmaceuticals
"We are excited about the potential of WTX-613 based on compelling proof-of-concept data, recently presented at ASH, where a WTX-613 surrogate molecule demonstrated anti-tumor activity in preclinical models," Iannone added.
WTX-613 is currently in preclinical development. Jazz expects to submit an Investigational New Drug (IND) application to the FDA for WTX-613 in 2023.
Jazz will make an upfront payment of $15 million to Werewolf, and Werewolf is eligible to receive development, regulatory and commercial milestone payments of up to $1.26 billion.
Pending approval, Werewolf is eligible to receive a tiered, mid-single-digit percentage royalty on net sales of WTX-613.
Price Action: HOWL shares are up 9.94% at $5.20 during the premarket session on the last check Thursday.