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Aduro Biotech (ADRO) gets IND milestone payment from Janssen for ADU-214, drops -$0.38

October 9, 2015 9:46am

Aduro gets milestone payment from Janssen for submission of IND for ADU-214 to treat non-small cell lung cancer; size of milestone payment not disclosed.

The IND will enable Janssen, ADRO’s license partner for ADU-214, to initiate a multi-center P1 trial to evaluate the safety and immunogenicity of intravenous administration of ADU-214.

The Bottom Line: Due date for trial initiation is by the end of 2015. Any strength is being sold into as ADRO closed at $21.74 and is trading at $21.36 at the open with small 3,568 shares traded

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