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Voyager Therapeutics stock soars after AbbVie collaboration potentially valued at over $1 billion

Tomi Kilgore

Shares of Voyager Therapeutics Inc. ran up 14.2% in premarket trade Friday, after the gene therapy company and AbbVie Inc. announced a collaboration to develop antibodies to treat Parkinson's disease. AbbVie's stock was still inactive ahead of the open. Under terms of the collaboration, Voyager will receive $65 million upfront and up to $245 million in preclinical and phase 1 option payments, as well as up to an additional $728 million in potential milestone payments and royalties. Voyager is also eligible to earn up to a total of $500 million in commercial milestones. Voyager's stock has lost 10% over the past three months, while AbbVie shares have declined 8.6% and the S&P 500 has gained 4.7%.