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Why Regenxbio Stock Is Way Up Today

TheMotleyFool

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Why Regenxbio Stock Is Way Up 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

Regenexbio (NASDAQ: RGNX) stock is shooting higher after the clinical-stage biotech signed a new collaboration deal with AbbVie (NYSE: ABBV), a giant global pharmaceutical company. Investors happy with the generous terms of the deal pushed Regenexbio shares 25.6% higher as of 2:06 p.m. EDT on Monday.

License and royalty revenue from Novartis regarding Zolgensma isn't nearly enough to fuel Regenexbio's ambitious development pipeline. Today's deal with AbbVie, though, gives the company a lot more cash to work with.

Image source: Getty Images.

Source Fool.com

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