Generation Bio, Moderna announce collaboration
Shares of Generation Bio Co. (GBIO) jumped about 28% premarket trading on Thursday after the company announced a collaboration with Moderna Inc. (MRNA) to to develop novel nucleic acid therapeutics. Moderna will make an upfront payment of $40 million in cash, in addition to a $36 million equity investment "at a premium over recent share prices." Generation Bio's stock are down 1.3% so far this year, while the broader S&P 500 has gained 2.9%.
-Jaimy Lee
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
March 23, 2023 07:44 ET (11:44 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
, 
, 
Copyright ©2023. All rights reserved.