By Ben Glickman
Shares of Verve Therapeutics surged Tuesday after revenue jumped in the third quarter.
The stock was up 29% to $19.31 in afternoon trading. Shares are down 0.2% this year.
The Boston-based clinical-stage biotechnology reported revenue of $3.12 million, up from $929,000 a year ago and more than the $1 million expected by analysts polled by FactSet.
The company had a third-quarter loss of $45.8 million, or 72 cents a share.
Verve said Oct. 31 that it was expanding its relationship with Eli Lilly. Lilly bought from Beam Therapeutics some product rights to Verve’s in vivo gene-editing programs.
Write to Ben Glickman at [email protected]
Read the full article here
