Why BiomX Shares Are Trading Higher Today?

BiomX Inc PHGE has announced a new collaboration with Boehringer Ingelheim to identify biomarkers for inflammatory bowel disease (IBD).
BiomX is a clinical-stage microbiome company advancing novel natural and engineered phage therapies that target specific pathogenic bacteria.
Under the collaboration, BiomX will utilize its XMarker microbiome-based biomarker discovery platform to identify biomarkers for a pathogenic bacterium thought to be associated with IBD.
Such biomarkers could help identify IBD patients that would benefit from potential therapies targeted at the microbiome.
Related: BiomX Slashes Its Workforce By 50%, Atopic Dermatitis Program To Be Delayed.
In September 2020, Boehringer Ingelheim and BiomX entered their first collaboration, which focused on identifying biomarkers associated with patient phenotypes in IBD.
The terms of the collaboration entitle BiomX to research payments and also include an option for Boehringer Ingelheim to negotiate an exclusive right to biomarkers discovered under the collaboration.
BiomX retains the right to utilize the biomarkers as companion diagnostics for phage therapy.
Price Action: PHGE shares are up 2.86% at $0.75 during the market session on the last check Tuesday.