Icagen shares soar on big Pfizer pact

Durham, NC-based Icagen scored a drug development pact with a product-hungry Pfizer, which sent its stock price hurtling up 70 percent as the rest of the market continued its southward swoon. Icagen gets $38 million in the first two years of its collaboration, with $12 million of that coming upfront and $15 million as an equity stake. Icagen also stands to pocket up to $359 million in milestones for successful programs that target three sodium ion channels as a mechanism for controlling pain.

- see this release from Icagen
- read the latest report from TheStreet.com

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