Axovant Shares Up 42% on Partnership, Analyst Coverage -- Update
11:53 am ET June 21, 2019 (Dow Jones) Print
By Chris Wack
Shares of Axovant Gene Therapies Ltd. (AXGT) rose 42% to $8.21 after signing a development and commercialization partnership, and having its stock covered by a stock analyst.
The clinical stage gene therapy company said Thursday that it has signed a strategic partnership with Yposkesi, where Yposkesi will provide expertise in process development, technology transfer, manufacturing scale-up, quality control and quality assurance.
Axovant said that the ongoing prioritized access for manufacturing resources will support Axovant's gene therapy programs as they proceed through development and commercialization, with an initial focus on the AAV-based gene therapies.
The company also had its stock initiated at Outperform by SVB Leerink, who set a price target at $18.00 a share.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
June 21, 2019 11:53 ET (15:53 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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