F-star Therapeutics Stock Jumps On Licensing Pact For STING Inhibitors With AstraZeneca
F-star Therapeutics Inc FSTX has signed an exclusive licensing deal with AstraZeneca plc AZN for the research, development, and commercialization of next-generation STING inhibitor medicines.
AstraZeneca will have exclusive access to F-innovative star’s preclinical STING inhibitors under the terms of the agreement.
All future R&D and commercialization of STING inhibitor medicines will be handled by AstraZeneca.
All STING agonists currently in clinical development for cancer will be retained by F-star.
F-star is entitled for up to $12 million in upfront and near-term payments, as well as milestone payments of more than $300 million, as well as royalty payments.
During the premarket session on Thursday, FSTX shares were up 15.4 percent at $8.47, while AZN shares were down 0.97 percent at $59.18.