02:24 PM EST, 11/05/2024 (MT Newswires) -- Bionomics (BNOX) shares surged over 165% in recent trading on Tuesday after the company said it received a milestone payment of AU$1 million ($660,000) from Carina Biotech for BNC101, one of its partnered legacy oncology programs.

The payment was made on Oct. 30 under the exclusive, worldwide license agreement for cancer treatment candidate BNC101, Bionomics added.

The company said it is eligible to receive up to AU$118 million from Carina Biotech conditional on the achievement of certain development, regulatory and commercial milestones.

Price: 0.51, Change: +0.32, Percent Change: +165.10