Here’s Why Wells Fargo, eBay, CytomX Therapeutics, Dominion Diamond, and More Are Trending

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CytomX Therapeutics Inc (NASDAQ:CTMX) has surged 25% after the company announced that it and Bristol-Myers Squibb Co (NYSE:BMY) would expand their global collaboration to discover Probody Therapeutics. Under the terms of the expansion agreement, CytomX will grant Bristol-Myers Squibb exclusive worldwide rights to develop and commercialize Probody therapeutics for up to two non-oncology targets and six additional oncology targets. Bristol-Myers Squibb will make an upfront payment of $200 million to CytomX and provide research funding over the course of the research period. Moreover, CytomX will be eligible to receive up to $448 million in future development, sales and regulatory milestone payments for each collaboration target, as well as tiered royalty payments from the mid-single digits to low-double digits on net sales of each product commercialized by Bristol-Myers Squibb. 11 and 58 top funds we track were long CytomX Therapeutics Inc (NASDAQ:CTMX) and Bristol-Myers Squibb Co (NYSE:BMY) at the end of Q4.

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