Theravance surges on royalty deal


Agreement Results in $1 Billion Payment

Theravance agreed to sell a portion of future royalty payments from GlaxoSmithKline to Elan. The deal will result in a one-time $1 billion payment to the California biotech. THRX climbs 13 percent before the bell on my tradeMONSTER platform.

Perion Networks Rallies on Strong Results

Perion Networks earned $0.45 a share on revenue of $27.6 million. Analysts had expected only $0.37 and $24 million, respectively. PERI rallies 15 percent in early trading.

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