Why Is Omega Therapeutics (OMGA) Stock Up 111% Today?

Omega Therapeutics (NASDAQ: OMGA ) stock is rising higher on Thursday after the company announced a research collaboration agreement with Novo Nordisk (NYSE: NVO ). The collaboration between the two companies will focus on developing an obesity management treatment. This will use Omega Therapeutics’ proprietary platform technology to create an epigenomic controller with the goal of enhancing metabolic activity.

Novo Nordisk will reimburse Omega Therapeutics for its research costs. It will also pay the company up to $532 million in upfront, development and commercial milestone payments. Omega Therapeutics will also be eligible to receive tiered royalties on annual net sales if the product is commercialized.

Omega Therapeutics president and CEO Mahesh Karande said the following about the news. How This Affects OMGA Stock Today With today’s announcement comes heavy trading of Omega Therapeutics’ shares. That has nearly 9 million units on the move as of this writing. This is a massive surge in trading volume compared to the company’s daily average of about 248,000 shares.

OMGA stock is up 111% as of Thursday morning. Investors can find even more of the latest stock market stories below! We have all of the hottest market coverage worth reading about on Thursday! Among that is what has shares of Jeffs Brands (NASDAQ: JFBR ) stock up, the biggest pre market stock movers this morning and more.

All of that news is ready to go at the links below! More Stock Market News for Thursday Why Is Jeffs Brands (JFBR) Stock Up 46% Today? Today’s Biggest Pre Market Stock Movers: 10 Top Gainers and Losers on Thursday AMC Stock Just Hit a New All Time Low On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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