Shares of CytomX Therapeutics (NASDAQ:CTMX) are skyrocketing in after-hours trading. This can be attributed to an agreement with Moderna (NASDAQ:MRNA) to create mRNA therapies with its technology.
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The agreement will allow the companies to develop treatments for oncology and non-oncology conditions. Most importantly, CytomX Therapeutics has the potential to receive up to $1.2 billion in payments based on meeting certain requirements.
Overall, Wall Street analysts have a consensus price target of $3.30 on CTMX stock, as indicated by the graphic above. However, this is likely to change tomorrow following today’s announcement.
