MENLO PARK, Calif. (AP) - Biotechnology company Geron Corp. said Wednesday
it received a $4 million payment from development partner Merck & Co. for work
on a cancer vaccine candidate.
Merck asked the Food and Drug Administration for approval to begin studies
for the cancer vaccine candidate, which uses Geron technology. The filing
triggered the milestone payment.
The companies have been collaborating on the vaccine since July 2005 and
Merck has exclusive worldwide rights to develop and sell the vaccine.
Meanwhile, Geron said it is enrolling patients in its own early-to-midstage
study of a vaccine candidate.
Shares of Geron rose 34 cents, or 5.2 percent, to $6.90 in premarket
trading. Merck shares closed at $60.40 Tuesday.
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