Benzinga | Jul 13, 2020 10:51AM EDT

Why BeiGene's Stock Is Trading Higher Today

BeiGene (NASDAQ:BGNE) shares are trading higher on Monday after Amgen announced a $421 million investment in the company.

BeiGene is a clinical-stage biopharmaceutical company. It is engaged in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The company has developed a proprietary cancer biology platform that addresses the importance of tumor-immune system interactions and the value of primary biopsies in developing new models to support its drug discovery effort.

It has developed clinical-stage drug candidates that inhibit the important oncology targets Bruton's tyrosine kinase, or BTK; RAF dimer protein complex and PARP family of proteins, and an immuno-oncology agent that inhibits the immune checkpoint protein receptor PD-1.

BeiGene's stock traded up 10.80% to $217.21 per share at the time of publication on Monday. The stock has a 52-week high of $217.46 and a 52-week low of $114.41.