Here's why Voyager Therapeutics is up 55%

Voyager Therapeutics Inc (NASDAQ: VYGR) announced that the group had inked a license option agreement that allows Pfizer Inc. (NYSE: PFE). As news of the deal became official and was doing the rounds, the share value of Voyager spiked 55% on Wednesday morning.

Insight about the agreement

The agreement gives Pfizer the option to sanction and permit usage of novel capsids, which is obtained from Voyager’s RNA-inspired TRACERTM screening technology. TRACERTM technology is a part of Pfizer’s efforts to design, develop, manufacture, and commercialize gene therapies. Two undisclosed transgenes are used to treat a set of neurologic and cardiovascular disorders and diseases.

Voyager slated to receive $30 million as upfront payment

Under the terms and conditions of the license option agreement, Voyager is slated to receive $30 million as an upfront payment. Furthermore, the group is eligible to receive up to $20 million as an exercise fee. Moreover, the agreement makes Voyager entitled to earn up to $580 million.

Comments pour in as news of the license option agreement becomes official

As news of the development became official, words poured from various quarters. Interim CEO of Voyager Therapeutics Inc, Michael Higgins, said: