Biotech Catches Major Premarket Bid

A Massachusetts-based biotech company is stealing the show so far during Tuesday’s premarket hours after it was announced that it has entered into an exclusive license and collaboration agreement with Merck (known as MSD outside of the U.S. and Canada) to develop degrader-antibody conjugates (DACs), an emerging modality designed to selectively target and neutralize disease-causing proteins in cancer cells, according to the release.

Traders were extremely optimistic on the news as shares of C4 Therapeutics Inc. (Nasdaq:CCCC) are currently bid up at $1.75/share (+48.31% implied open for sellers) at the time of writing. This should be an exciting session for this micro cap.

C4 Therapeutics Inc is a bio-pharmaceutical company. The company is focused on harnessing the body’s natural regulation of protein levels to develop novel therapeutic candidates to eliminate disease-causing proteins for the treatment of cancer, neurodegenerative conditions and other diseases.

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