Shares of Entrada Therapeutics Inc. rallied 15% in premarket trading on Thursday after the company announced a deal with Vertex Pharmaceuticals Inc. that aims to develop treatments for myotonic dystrophy type 1, a genetic disorder that causes progressive muscle weakness. The collaboration includes Entrada’s ENTR-701, which is currently in preclinical studies. Per the terms of the deal, Vertex will pay Entrada an upfront payment of $224 million and make an equity investment of $26 million, with additional milestone payments worth up to $485 million. Entrada’s stock has gained 44.6% this year, while the broader S&P 500 is down 17.4%.
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