Vical Scores Big License Pact with Bristol-Myers Squibb

While Vical shares are surging, it is hard to know what the company will net out of the deal. As you often see in these biotech and drug pacts, the exact financial terms of the agreement were not disclosed.

Vical’s CEO was quoted saying, “This agreement represents a meaningful step toward monetizing a common use of our broadly applicable intellectual property asset, and establishes a template for additional agreements with others working in the field.”

As you can see here, Vical has an extensive drug candidate pipeline. Its shares are surging higher by 14% to $4.30 after a $3.77 close on Wednesday, and the 52-week trading range is $2.22 to $4.82. Today’s gain puts Vical with a market cap of close to $370 million, and the consensus analyst target price on the stock was listed as $5.50, according to Thomson Reuters, before the effects of this license news.

JON C. OGG