Shares of ProQR Therapeutics NV PRQR, +0.37% soared 56.3% in premarket trading on Thursday after the company said it expanded an RNA editing deal with Eli Lilly & Co. Inc. LLY, +0.71% 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, +0.59% is down 18.6%.
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