Stock Alert: Jounce Therapeutics Touches New High

(RTTNews) - Shares of clinical-stage immunotherapy company, Jounce Therapeutics, Inc. (JNCE) are rising more than 14% Tuesday morning and touched a new high at $10.25.

The stock more than doubled from early this month, following Gilead Sciences' investment in the company to develop and commercialize Jounce's novel immunotherapy program, JTX-1811.

Gilead has agreed to pay $85 million upfront and $35 million in equity investment.

Jounce plans to submit New Drug application for its drug candidate, JTX-1811 in the first half of 2021. JTX-1811 is a monoclonal antibody designed to selectively deplete immunosuppressive tumor-infiltrating T regulatory (TITR) cells.