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.