Senti Biosciences (NASDAQ:SNTI) stock is rocketing higher on Tuesday after the company announced a new strategic collaboration in China.
This strategic collaboration has the biotechnology company agreeing to work with Celest Therapeutics. The two will handle the clinical development of SENTI-301A as a treatment for solid tumors in the country.
This collaboration will have Celest Therapeutics handling the major clinical development of the treatment. That includes manufacturing of SENTI-301A in China. Senti Biosciences will act in a support role to the company with its technical expertise.
With this agreement, Senti Biosciences is eligible to receive up to $156 million in milestone payments from Celest Therapeutics. Terms of the deal also include tiered royalty payments for the company. Adding to that, SNTI retains the right to commercialize SENTI-301A outside of mainland China, Hong Kong, Macau, and Taiwan.
Timothy Lu, MD, PhD, co-founder and CEO of Senti Biosciences, said the following about the collaboration:
“By leveraging Celest’s strength to accelerate clinical development, manufacturing, and regulatory activities in China, we are one step closer to bringing Senti’s Gene Circuit technology to patients who have limited therapeutic options.”
SNTI Stock Movement Today
With today’s news comes heavy trading of SNTI stock. As of this writing, more than 8.7 million shares of the stock have changed hands. For the record, the company’s daily average trading volume is closer to 396,000 shares.
SNTI stock is up 140.4% as of Tuesday morning.
Investors seeking out even more of the most recent stock market news will want to keep reading!
We have all of the latest stock market news that traders need to know about on Tuesday! That includes a dive into the biggest pre-market stock movers this morning, what’s going on with Albemarle (NYSE:ALB) stock and more. All of that news is ready at the links below!
More Tuesday Stock Market News
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- Dear ACHR Stock Fans, Get Ready for a Major eVTOL Catalyst on Nov. 13
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
