Why Lineage Cell Therapeutics Stock Popped Today

Prosper Junior Bakiny, The Motley Fool
·2-min read
Why Lineage Cell Therapeutics Stock Popped Today

Shares of clinical-stage biotech Lineage Cell Therapeutics (NYSEMKT: LCTX) rose sharply on Tuesday after the company announced a worldwide license agreement with privately held biotech Immunomic Therapeutics. Lineage Cell Therapeutics' stock rose as much as 10.6% but closed the day by 4.6%. Per the terms of the deal, Lineage Cell Therapeutics and Immunomic Therapeutics will collaborate to develop a potential cancer therapy derived from Lineage's VAC allogeneic cancer immunotherapy platform.