By Stephen Nakrosis

Shares of CytomX Therapeutics Inc. jumped in Thursday's after-hours session after the company said it entered a strategic research collaboration with Moderna Inc.

The collaboration will "combine Moderna's mRNA technology with CytomX's Probody platform to generate and develop therapeutics for oncology and non-oncology conditions," the companies said.

The deal will see CytomX receive a $35 million upfront payment, the companies said, adding CytomX has the potential for additional payments.

CytomX shares gained 58% to $2.83 in after-hours trading. higher. The stock finished the day's regular session with a 7.19% gain, closing at $1.79 per share.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

January 05, 2023 17:01 ET (22:01 GMT)

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