: ITeos stock jumps 60% after company announces deal with GSK #FinanceUSA #StockMarketNEWS Shares of iTeos Therapeutics Inc. soared 58.5% in premarket trading on Monday after the company announced a

@stockMarketNEWS Mon 14 Jun, 2021

Posted in: #FinanceUSA #StockMarketNEWS

iTeos stock jumps 60% after company announces deal with GSK #FinanceUSA #StockMarketNEWS
Shares of iTeos Therapeutics Inc. soared 58.5% in premarket trading on Monday after the company announced a deal with GlaxoSmithKline to develop and commercialize an experimental cancer therapy. GSK will make a 5 million upfront payment to iTeos, with an additional .4 billion in possible milestone payments available in the future. The immuno-oncology drug candidate is currently being tested in an open-label, Phase 1 clinical trial in patients with advanced solid tumors; as part of this deal, the companies plan to pair the iTeos drug with GSK's Jemperli in studies next year. (Jemperli was initially approved by the Food and Drug Administration as a treatment for endometrial cancer in April.) Shares of iTeos are down 40.8% so far this year, while the S&P 500 has gained 13.1%.

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