Reported 1 day ago
Arrowhead Pharmaceuticals (ARWR) experienced a 24.9% increase in its stock price after receiving $100 million from Sarepta Therapeutics for a licensing agreement. The payment included $50 million in cash and $50 million in shares, which were returned to treasury, reducing outstanding shares and enhancing existing shareholders' value. This financial boost was linked to the company's achievement in an early-stage clinical trial for a therapy aimed at type 1 myotonic dystrophy.
Source: YAHOO