Why Is ProQR (PRQR) Stock Up 83% Today? thumbnail

Why Is ProQR (PRQR) Stock Up 83% Today?

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ProQR (NASDAQ:PRQR) stock is rising on Thursday thanks to an expanded licensing and collaboration agreement with Eli Lilly (NYSE:LLY).

Specifically, the agreement concerns ProQR’s Axiomer RNA-editing platform. The goal of developing this platform is for the treatment of both liver and nervous system disorders. ProQR notes that recent developments with Axiomer have “significantly increased editing efficiency and refined biodistribution.”

With this newest agreement with Eli Lilly, the company will work alongside ProQR to discover more uses for Axiomer. One focus will be on patients living with diseases that have “high unmet medical need.”

ProQR founder and CEO Daniel de Boer said the following about the agreement news:

“Our original collaboration with Lilly, which leverages our Axiomer RNA editing technology platform, continues to progress well and we are pleased to be expanding our partnership to include additional targets, along with an option for Lilly to opt in for more.”

ProQR’s original agreement with Eli Lilly came in September 2021. Under the terms of that initial deal, the company is eligible for up to “approximately $3.75 billion in research, development and commercialization milestones, as well as tiered royalties of up to mid-single digit percentage on product sales.”

PRQR Stock Is Experiencing Heavy Trading Today

PRQR stock is seeing massive trading volume following today’s news. That has some 74 million shares changing hands as of this writing. For the record, the daily average trading volume is closer to 877,000 shares.

PRQR stock is up 83.6% as of Thursday afternoon,

Investors seeking out more of the latest stock market news today are in the right place!

We’ve got all of the latest stock market news traders need to know about on Thursday! That includes what’s happening with shares of Mirati Therapeutics (NASDAQ:MRTX), Nikola (NASDAQ:NKLA) and Under Armour (NYSE:UA) stock today. You can learn more on these matters at the links below!

More Thursday Stock Market News

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.