Why Autolus Therapeutics Stock Jumped 25% Today
Shares of Autolus Therapeutics (NASDAQ: AUTL) surged 25% on Monday after the biopharmaceutical company struck a deal to receive financing of up to $250 million from Blackstone Life Sciences.
Under the terms of the deal, Blackstone agreed to buy $100 million of Autolus' American depositary shares. Additionally, Autolus would receive a $50 million upfront payment, as well as $100 million in milestone payments. The biotech said it would use this cash to fund the development and commercialization of its experimental leukemia therapy, obecabtagene autoleucel (obe-cel).
Investors cheered Blackstone's investment in Autolus Therapeutics. Image source: Getty Images.
Source Fool.com
