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Techniclone Shares Up 14% on Licensing Deal

October 24, 2000|Bloomberg News

Techniclone Corp.'s stock on Monday rose 14%, or 34 cents a share, to $2.75 in Nasdaq trading after the Tustin biopharmaceutical company said it agreed to license part of its tumor-treatment technology to Germany's Merck KgaA.

Volume surpassed 2.6 million shares, more than triple the average daily volume over the last three months.

Merck KgaA will pay an undisclosed amount up front and royalties on any sales.

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