Shares of Editas Medicine (EDIT) - Get Report were up 9.6% to $27.30 in premarket trading on Tuesday after the Cambridge, Mass.-based company and Allergan (AGN) - Get Report announced a research hand development deal.
Under the agreement, Dublin, Ireland-based Allergan will receive exclusive access and the option to license up to five of Editas Medicine's genome-editing ocular programs. These include Editas' lead program for Leber Congenital Amaurosis (LCA10).
Editas Medicine will receive a $90 million upfront payment for the development of five candidate programs. The company can earn additional payments for reaching near-term milestones related to LCA10.
Shares of Amphastar Pharmaceuticals (AMPH) - Get Report were down 8% to $13.55. The Rancho Cucamonga, Calif.-based company after the close on Monday reported fourth-quarter adjusted net income of $549,000, or $0.01 per diluted share, on net revenue of $63.5 million.
Aratana Therapeutics (PETX) - Get Report shares were down 7.5% to $6.43. The Leawood, Kan.-based firm announced its latest results after the close on Monday. Aratana reported a fourth-quarter net loss of $23.3 million or $0.64 diluted loss per share, which includes $10.7 million in inventory adjustments and impairment of an intangible asset. Net revenue was $292,000.
Among the other stock movers on Tuesday was Pacira Pharmaceuticals (PCRX) - Get Report , whose shares were up 2.2% to $47.40. The Parsippany, N.J.-based company said its phase four study of Exparel (bupivacaine liposome injectable suspension) in patients undergoing total knee arthroplasty "achieved statistical significance for its co-primary endpoints for postsurgical pain and opioid reduction."