Regeneron to expand development deal with Intellia Therapeutics

Shares of Regeneron Pharmaceuticals Inc. REGN, +5.98% were down 0.5% in premarket trading on Monday after the company said it had expanded a collaboration with Intellia Therapeutics Inc. NTLA, -0.05% to include CRISPR/Cas9-based therapeutic targets and a new focus on developing treatments for hemophilia A and B. Intellia’s stock was up 23.6% before the market opened. Regeneron will pay $70 million upfront and make a $30 million equity investment in Intellia at $32.42 per share. Regeneron recently wrapped up a longtime development arrangement with Sanofi SNY, +0.88%. Year-to-date, Regeneron’s stock is up 63.2%, shares of Intellia have gained 19.3%, and the S&P 500 SPX, +0.48% is down 5.7%.
https://www.marketwatch.com/story/regeneron-to-expand-development-deal-with-intellia-therapeutics-2020-06-01