Why Shares of Adaptimmune Therapeutics Jumped Tuesday

Shares of Adaptimmune Therapeutics (NASDAQ: ADAP) were up as much as 9.7% early Tuesday after the clinical-stage biotech announced that it had reached an agreement with GSK (NYSE: GSK) to return the rights to Adaptimmune's PRAME and NY-ESO cell therapy programs. Adaptimmune focuses on therapies to treat cancer in solid tumors through its SPEAR (for Specific Peptide Enhanced Affinity Receptor) T-cell platform. The company has four SPEAR T-cells in trials: MAGE-A10, MAGE-A4, AFP, and NY-ESO.