Jounce Therapeutics Stock Is Trading After $25M In Milestone Payment From Gilead

The FDA has signed off Jounce Therapeutics Inc's JNCE Investigational New Drug (IND) application for JTX-1811, triggering a milestone payment of $25 million from Gilead Sciences Inc GILD.
JTX-1811, referred to as GS-1811 in Gilead's pipeline, is a monoclonal antibody to deplete immunosuppressive tumor-infiltrating T regulatory cells selectively.
Under the terms of the September 2020 agreement, Gilead invested $35 million in Jounce's common stock and made an $85.0 million upfront payment to Jounce.
Price Action: JNCE shares are up 5.7% at $7.39 during the market session on the last check Tuesday.