Shares of Los Angeles-area biotech firm Xencor Inc. soared Tuesday by 32% after the company announced a deal with Swiss drug giant Novartis.
Under the agreement, Novartis will pay Xencor $150 million now and potentially much more in the future as the companies work to develop and commercialize two experimental cancer drugs.
11:32 Brexit: EU negotiator says 'time's short' for reaching deal13
20:05 Headphone deal of the day: Klipsch Reference On-Ear Premium headphone for $3012
09:13 Rouhani says Iran will not let Trump rip up nuclear deal14
06:21 Carlos Beltran agrees to one-year deal with Houston Astros17