Cytel deal

Schwarz purchased $2 million of CYTL common stock at $8.28, a 100 percent premium to the 30-day floating average close of $4.13, CYTL said. The San Diego company has 21.8 million shares outstanding after the deal.

Schwarz also will make an undisclosed license payment, additional milestone payments and fund 75 percent of the clinical trial costs. CYTL, which retains manufacturing rights, will receive royalties from European sales. North American profits will be shared equally. ...