- Gilead Sciences Inc (NASDAQ:GILD) and Jounce Therapeutics Inc (NASDAQ:JNCE) amended their existing license agreement for GS-1811 (formerly JTX-1811), enabling Gilead to buyout remaining contingent payments potentially due under the license agreement executed in August 2020.
- GS-1811, an immunotherapy, is designed to selectively deplete immunosuppressive tumor-infiltrating T regulatory cells in the tumor microenvironment.
- It is currently in Phase 1 development for solid tumors.
- Jounce will receive proceeds of $67 million for this transaction, and Gilead will be solely responsible for all further research, development, and commercialization of GS-1811 globally.
- Gilead expects the transaction with Jounce to reduce its GAAP and non-GAAP 2022 EPS by approximately $0.04.
- Jounce will no longer be entitled to receive the remaining contingent payments of up to $645 million in milestones and high single-digit to mid-teens royalties based upon worldwide sales under the original license agreement.
- Price Action: JNCE shares are up 68.2% at $1.24 during the premarket session on the last check Wednesday.
BCE Q4 EPS $0.53 Misses $0.54 Estimate, Sales $4.79B Beat $4.78B Estimate
BCE (NYSE:BCE) reported quarterly earnings of $0.53 per share which missed the analyst consensus estimate of $0.54 by 1.85 percent. This is a 11.67 percent decrease over earnings of $0.60 per share from the same period
