Stock Alert: Trillium Hits New High

(RTTNews) - Shares of clinical-stage immuno-oncology company Trillium Therapeutics Inc. (TRIL) are surging more than 35% Wednesday morning on the news of a $25 million equity investment by Pfizer in the company.

The stock hit a new high of $14.15 this morning.

Trillium has agreed to sell 2,297,794 of its shares to Pzier at $10.88 per share, the company said.

The offering is expected to close by September 10, 2020.

Also, Dr. Jeff Settleman, Senior Vice President and Chief Scientific Officer, Oncology, Worldwide Research, Development & Medical, Pfizer, has agreed to join Trillium's Scientific Advisory Board (SAB), once formed, the company added.