Avant's Shares Boost on Pfizer's Investment, Cancer Vaccine License
Shares of Avant Immunotherapeutics Inc. surged on Thursday 16.6 percent to $11.72 at the end of the session in Nasdaq after the company licensed a cancer vaccine to Pfizer Inc.
The deal was announced yesterday agreeing that Pfizer would pay $40 milllion up front adding an equity investment of $10 million to Avant to acquire the exclusive global license of a brain cancer vaccine treatment which is currently in Phase 2 development.
Earlier Thursday, Avant shares rose as high as $13.89, it's highest value since March 2000, according to the Associated Press.
Analysts observed Avant could exceed expectations from Wall Street the source stated.
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