ARTICLE | Company News
Molecular Templates gains on deal with Takeda
September 19, 2018 10:39 PM UTC
Building on a previous discovery collaboration, Molecular Templates Inc. (NASDAQ:MTEM) and Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) partnered Wednesday to develop CD38-targeting engineered toxin bodies (ETBs) to treat multiple myeloma. Molecular Templates will receive $30 million up front and is eligible for milestones and royalties.
Molecular Templates' stock gained $2.15 (52%) to $6.25 Wednesday. The move add $58.2 million to its market cap, bringing its total valuation to $169.2 million...
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