By Kelly Cloonan
Shares of Arcturus Therapeutics gained after the company said it would work with Thermo Fisher Scientific to advance a therapy for cystic fibrosis.
The stock rose 5.8% to $7.29 in premarket trading Thursday. Shares had risen 12% year to date at Wednesday's market close.
The collaboration focuses on the Phase 3 development and potential commercialization of ARCT-032, Arcturus' investigational mRNA therapy for cystic fibrosis.
Under the agreement, Thermo Fisher will provide Phase 3 manufacturing, clinical research and related services to accelerate the development of ARCT-032, while Arcturus continues to advance the program.
Thermo Fisher will also receive exclusive commercial manufacturing rights to the drug under a separate commercial agreement, subject to regulatory approval of the treatment, Arcturus said.
Write to Kelly Cloonan at kelly.cloonan@wsj.com