Voyager Therapeutics Made a Deal with Pfizer and Allogene Therapeutics Received a Warning From the FDA
Voyager Therapeutics is a healthcare company that focuses on biotechnology through gene therapy. They are in Boston, Massachusetts, which makes sense because there are a lot of biotech firms there, and they have a market cap of $210.543 million.
On Friday, Voyager announced a deal with pharma giant Pfizer regarding gene therapies. It allows Pfizer to gain the exclusive license to gene therapies that are developed using Voyager’s RNA technology. In exchange, Voyager will receive a payment of $30 million, and milestone payments depending on how the therapies do. Due to this news, Voyager closed the day at $5.55, up 44.53%.
Allogene Therapeutics is also a healthcare company in the biotech industry, but they focus on cell therapy, and they are located on the other side of the country in San Francisco, California.
On Friday, the FDA placed a hold on AlloCAR’s clinical trials, which is Allogene’s therapy. They noticed a chromosome abnormality in a patient who was treated, which caused the temporary shutdown of the trials until more information could be collected. Since this therapy is very important to Allogene, the lengthy process of looking through the trials to see what happened will hurt the company. On Friday, Allogene fell to $13.13, down 46.14%.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.