Why Personalis (PSNL) Shares Are Trading Higher Today - Personalis (NASDAQ:PSNL)

Personalis Inc PSNL and Moderna Inc MRNA have signed a new agreement to continue using the Personalis NeXT Platform as part of upcoming clinical studies of mRNA-4157/V940, an investigational personalized cancer vaccine, jointly developed by Moderna and Merck & Co Inc MRK.
The platform, also utilized in the vaccine candidate's Phase 2b study, will be used to sequence genomic information from a patient's tumor sample to identify the unique genetic mutations that are most likely to generate a tailored antitumor response.
In January, Personalis approved a reduction in its workforce by up to approximately 30% to reduce operating costs and improve operating efficiency.
The company estimates that it will incur charges of approximately $3 million for severance payments and employee benefits, primarily in the first quarter of 2023.
Price Action: PSNL shares are up 26.80% at $3.86 on the last check Friday.

Why Personalis Shares Are Trading Higher Today