Werewolf Therapeutics Shares Surge 89.94% After Hours on EMD Serono Deal – Werewolf Therapeutics (NASDAQ:

Werewolf Therapeutics Inc. (NASDAQ:HOWL) shares are trending on Friday.

Shares of the Massachusetts-based clinical-stage biopharmaceutical company surged 89.94% to $0.82 in after-hours trading on Thursday, following disclosure that it sold its pre-clinical INDUCER and INDUKINE technology platforms to EMD Serono Research & Development Institute Inc.

INDUCER and INDUKINE are Werewolf’s pre-clinical drug-development platforms, designed to engineer conditionally-activated immune-stimulating molecules that target tumors while limiting effects on healthy tissue.

EMD Serono Research & Development Institute Inc. is a specialized biopharmaceutical company that operates as a subsidiary of Merck KGaA.

Deal Brings Fresh Non-Dilutive Cash

According to the Thursday Securities and Exchange Commission filing, Werewolf completed the sale last week and will collect $28 million upfront, plus an additional $5 million once the asset transfer is finalized.

The company retained full rights to its clinical-stage programs, WTX-124 and WTX-330. As part of the deal, Werewolf also secured an exclusive license from EMD Serono covering patents included in the sold assets, ensuring continued development of both programs moving forward.

Trading Metrics, Technical Analysis

Werewolf has a market capitalization of approximately $20.92 million. Its stock has traded between a 52-week high of $2.38 and a 52-week low of $0.27.