On October 5, XNCR’s price reached a three-month high of $ 36.81. Shares of the biopharmaceutical company that develops monoclonal antibodies and cytokines for the treatment of cancer and autoimmune diseases, gained 2% in Monday’s extended trading session after closing nearly 5.5% on the day. The reason for this was the news of a global collaboration between Xencor (XNCR) and Janssen Biotech of Johnson & Johnson (JNJ). Over the past 5 business days, the stock worth has been gradually rising. The current price is $ 3.72, up to $ 2.5 from last Wednesday.
Xencor (XNCR) has announced an exclusive partnership and worldwide licensing agreement with Janssen Biotech, one of Johnson & Johnson’s pharmaceutical companies, to develop and commercialize Plamotamab and new XmAb® B cells targeting bispecific antibodies designed to conditionally activate T- cells via the co-stimulatory CD28 receptor. Plamotamab is a CD20 x CD3 XmAb bispecific antibody. Under the terms of the deal, Xencor will get an upfront payment of $ 100 million. In addition, Xencor will be eligible for interim payments of up to $ 1.188 billion.