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Why Pandion Therapeutics [PAND] Stock Skyrocketing Pre-Market Today?

Pandion Therapeutics Inc. (NASDAQ: PAND) stock has been skyrocketing in pre-market trades today following news of a definitive agreement of acquisition. As of 08:50 a.m. EST, the stock was trading at $59.40 with a gain of 131.76%.

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Pandion Therapeutics aims to address the unmet needs of patients living with autoimmune diseases with development of novel therapeutics. Through TALON (Therapeutic Autoimmune reguLatOry proteiN) pharmaceutical design and discovery platform, the Pandion can identify pipeline candidates that use immunomodulating effector modules in combination with tissues-targeted tether modules in a bifunctional path.

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One of its lead product candidates, PT101, uses a mutin effector module with a chitin backbone to selectively expand regulatory T cells inside and outside of the body without activating cells that promote inflammation, such as natural killer cells. A key part of Pandion’s early-stage research and discovery pipeline is to expand its existing library of effector and tether modules.

Pandion Therapeutics today announced that Merck & Co., Inc. (NYSE: MRK) signed a definitive agreement to acquire Pandion.

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