Why Prime Medicine Stock Soared Nearly 12% Higher on Monday

Next-generation healthcare company Prime Medicine (NASDAQ: PRME) was exactly what the doctor ordered for ailing portfolios on the first trading day of the week. On a company update and news of collaboration with a top healthcare business, investors piled into the gene-editing specialist and sent its share price almost 12% higher today. That compared very favorably with the 0.4% gain in the bellwether S&P 500 index.Arguably the more significant of the two pieces of news was that partnership deal.Prime Medicine announced that it had signed a strategic research collaboration and license agreement with global pharmaceutical company Bristol Myers Squibb. The partnership will concentrate on the development of reagents (substances added to compounds to produce a chemical reaction) for use in T-cell therapies. Prime Medicine is to use its Prime Editor gene-editing platform to develop these reagents for its partner. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool