Shares of the clinical-stage oncology and autoimmune disease specialist MacroGenics (NASDAQ: MGNX) ended the day higher by a healthy 17.36% on a whopping 17.5 times the average volume.
The catalyst? Macrogenics’ shares took flight after the company announced a licensing deal with Incyte Corp. (NASDAQ: INCY) for its programmed cell-death protein 1 (PD-1) inhibitor, MGA012, that’s being assessed in four solid tumor types in an early-stage dose-escalation study.
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