Exicure Inc XCUR shares are trading higher Monday after the company announced it entered into an exclusive collaboration agreement with Ipsen targeting rare neurodegenerative disorders.
Exicure will receive a $20 million upfront payment and the company is potentially eligible to receive up to $1 billion in option exercise fees and milestone payments.
"We believe our platform technology with its deep penetration and persistence of medicinal effect will allow Exicure and Ipsen to overcome challenges from first-generation oligonucleotides and bring new medicines to patients in need," said David Giljohann, CEO of Exicure.
Exicure is a clinical-stage biotechnology company that develops a new class of immunomodulatory and gene silencing drugs against validated targets.
Price Action: Exicure has traded as high as $2.83 and as low as $1.34 over a 52-week period.
At last check Monday, the stock was up 33.1% at $1.80.
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