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Tuesday, Sep 10
Isis Pharmaceuticals settles back after an early morning pop
- Isis Pharmaceuticals (ISIS -0.4%) slip back into negative territory following an early +10% jump in the premarket on what appeared to be follow-on momentum from yesterday's big run.
- The company announced yesterday that it had signed a multi-year accord with Biogen Idec (BIIB) to research antisense technology to treat neurological diseases.
- Under the accord, Isis will receive an upfront payment of $100M, and is eligible to receive additional milestone payments, license fees and royalty payments for all treatments developed through the collaboration.