OncoMed declares one-time contractual right dividend; shares up 7% premarket

|About: OncoMed Pharmaceutical... (OMED)|By:, SA News Editor

The board of OncoMed Pharmaceuticals (NASDAQ:OMED) has declared a one-time special dividend to stockholders in the form of a contractual right to receive cash payments related to Celgene's (NASDAQ:CELG) option on etigilimab.

OMED shareholders of record on April 5 will be eligible to receive the money if a certain regulatory or sales milestone is achieved or if CELG pays royalties to OMED or its affiliates.

OMED is up 7% premarket on light volume.

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