Shares in Beam Therapeutics Inc were up 10% premarket following a deal to sell rights to a licensing deal with Verve Therapeutics to Eli Lilly and Co (NYSE:LLY).
An upfront $250 million cash and paper payment could balloon to $600 million based on milestones.
Verve's attraction is its cardiovascular gene therapy programs targeting PCSK9, ANGPTL3, and another undisclosed objective.
Notably, its VERVE-101 program recently had its United States Food and Drug Administration (FDA) hold lifted, marking a pivotal point for its phase I trials.
Ahead of the bell, Beam's stock was up $1.89 at $21.