Personalis (PSNL) announced agreements with long time collaborators Merck (MRK) and Moderna (MRNA) that accelerate the advancement of the company’s business strategy. The company has received an investment from Merck and separately has signed a multi-year extension with Moderna to utilize Personalis’ ImmunoID NeXT Platform and technology for V940/mRNA-4157, an investigational individualized neoantigen therapy, being jointly developed by Merck and Moderna. Merck has agreed to purchase $50M of Personalis common stock in a private placement at a price of $3.56 per share, which was the last reported closing price of Personalis’ common stock as reported on Nasdaq on December 18. Following the closing, Merck will own approximately 14M shares of Personalis common stock, representing an approximately 16.5% beneficial ownership interest in Personalis.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PSNL:
- Cathie Wood’s ARK Investment bought 358.6K shares of Personalis today
- Personalis and Tempus AI extend commercial deal to biopharma industry
- Cathie Wood’s ARK Investment bought 266.8K shares of Personalis today
- Personalis price target lowered to $7 from $8 at Lake Street
- Personalis Reports Solid Q3 Growth and Raises Revenue Outlook