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Why Jounce Therapeutics Bounced Higher Today

TheMotleyFool

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Why Jounce Therapeutics Bounced Higher TodayPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by David Maisel: https://img.theapi.app/temp/0e9d087d-988e-4397-b7cf-6049e2776769.png

Investors were pleased with biotech Jounce Therapeutics (NASDAQ: JNCE) on Tuesday. So much so, that at one point they traded the stock nearly 21% higher on the day; ultimately it cooled down, but still closed the day 8% higher.

The FDA cleared Jounce's Investigational New Drug (IND) application for its pipeline cancer immunotherapy JTX-1811, one of the four pipeline drugs currently being developed by the company.

This, in turn, is triggering a $25 million milestone payment from Gilead Sciences (NASDAQ: GILD), which holds the exclusive rights to develop and commercialize JTX-1811.

Source Fool.com

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