ProQR’s stock jumps on expanded RNA deal with Lilly

Shares of ProQR Therapeutics NV
PRQR,
+70.91%
soared 56.3% in premarket trading on Thursday after the company said it expanded an RNA editing deal with Eli Lilly & Co. Inc.
LLY,
+0.08%
aimed at making new genetic medicines. The companies had first said they would collaborate in 2021. As part of the expanded arrangement, Lilly will pay ProQR an upfront payment of $75 million. ProQR is now eligible for a total of $3.75 billion in milestone payments. ProQR’s stock has fallen 79.4% year-to-date, while the S&P 500
SPX,
-1.20%
is down 18.6%.