NEW YORK (TheStreet) -- Shares of Geron (GERN) were climbing 6.44% to $2 on heavy trading volume early Monday afternoon after the company signed an exclusive global licensing deal with privately-owned drug company Janssen Pharmaceuticals worth up to $80 million, according to an SEC filing released today.
Geron, a Menlo Park, CA-based biopharmaceutical company, will receive an upfront payment of $5 million with up to $75 million in additional development and regulatory milestone payments.
The company will also earn a low-single digit percentage of royalties on global net sales of the licensed products.
The products involved in the licensing agreement include Geron's RNA interference candidates and products that use the company's specialized nucleic acid chemistry for cancer therapy.
More than 2.28 million shares of Geron have traded hands so far today vs. the 30-day average volume of 2.1 million shares.
Separately, TheStreet Ratings objectively rated Geron stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "sell" with a ratings score of D+.
Among the areas we feel are negative, one of the most important has been a generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: GERN