Pharmacyclics (PCYC) +3.7% premarket after signing an agreement with Novo Nordisk (NVO) that...

|By:, SA News Editor

Pharmacyclics (PCYC) +3.7% premarket after signing an agreement with Novo Nordisk (NVO) that gives the Danish insulin producer rights to certain uses of its Factor VIIa molecule inhibitor. PCYC expects to receive $5M up front, as much as $55M in milestone payments, plus royalties on sales of NVO products that use the drug.