Why Trillium Therapeutics Stock Is on Fire Today
Shares of the clinical-stage immuno-oncology company Trillium Therapeutics (NASDAQ: TRIL) jumped by as much as 40% in pre-market trading Wednesday morning. The biotech's shares are rocketing higher today for two material reasons:
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Although Pfizer didn't exactly break the bank with this initial equity stake, it is a significant development nonetheless. Trillium's CD47 pipeline has enormous commercial potential as cutting-edge treatments for both solid tumors and blood cancers. Pfizer, for its part, has a well-documented history of buying novel cancer assets at a sky-high premium. So there's is a good chance that this modest equity stake will morph into a deeper relationship over time.
Source Fool.com
