aTyr Pharma Inc (NASDAQ: LIFE) is flying early on in the trading session this morning, and for good reason. The company announced that it has entered into a collaboration agreement, exciting investors who are pushing the stock up. Today, we’ll talk about:
- The collaboration agreement;
- what we’re seeing from LIFE stock as a result; and
- what we’ll be watching for ahead.
LIFE Announces Collaboration
As mentioned above, aTyr Pharma is having a great day in the market today after announcing collaboration news. In a press release issued early in the pre-market hours,t he company said that it has entered into an agreement with CSL Behring.
The research and development agreement surrounds the development of product candidates derived from up to four tRNA sythetases from the preclinical pipeline at LIFE.
According to the terms of the agreement, CSL Behring will fund all research and development activities for the duration of the collaboration. Also, CSL Behring will pay up to $4.25 million per synthetase program, bringing the total value to $17 million for all four programs.
These payments will be based on the advancement of the programs and achievement of research milestones. Also, the company will grant CSL Behring an option to negitate licenses for worldwide rights to each IND candidate that is developed as a result of this research collaboration.
In a statement, Sanjay Shukla, President and CEO at LIFE, had the following to offer:
This research collaboration with CSL Behring, an industry leader in the development of plasma-derived and recombinant therapeutics for rare and serious diseases, represents an important validation of our science and enables us to accelerate development of potential IND candidates from our pipeline.
We believe the combination of our discovery pipeline and knowledge of tRNA synthetases and CSL Behring’s expertise in drug development will yield innovative immunological therapies, and we look forward to a long and mutually beneficial partnership.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to aTyr Pharma, the news proved to be overwhelmingly positive.
After all, this collaboration will not only open the door to important funding, it may also result in multiple new products down the line. So, it’s not surprising to see that excited investors are pushing the stock up.
As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:30), LIFE stock is trading at $0.55 per share after a gain of $0.10 per share or 22.22% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on LIFE. In particular, we’re interested in following the company’s continued work to expand its pipeline, espcially considering today’s collaboration. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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