Why Alpine Immune Sciences Is Rising In Pre-market?

(RTTNews) - Alpine Immune Sciences, Inc. (ALPN) and Horizon Therapeutics plc (HZNP) announced a license and collaboration agreement for the development and commercialization of up to four preclinical candidates generated from Alpine's discovery platform. The agreement includes licensing of a lead, potential first-in-class preclinical candidate, and a research collaboration to jointly generate additional candidates.

Horizon will make an upfront payment to Alpine of $25 million and an equity investment in Alpine of $15 million. Also, Alpine is eligible to receive up to $381 million per program, or approximately $1.52 billion in total, in future success-based payments.

Shares of Alpine Immune Sciences were up 11% in pre-market trade on Thursday.