Royalty Pharma plc's stock is experiencing an uptick in after-hours trading following a series of positive announcements. The company reported robust third-quarter growth and raised its full-year guidance for 2024. Specifically, Royalty Pharma announced a 15% increase in both Portfolio Receipts and Royalty Receipts, reaching $735 million. Additionally, the company reported net cash provided by operating activities of $704 million and capital deployment of approximately $1.2 billion. These strong financial results have likely contributed to the positive sentiment around the stock.
Moreover, Royalty Pharma revealed plans to acquire a royalty interest in Geron's RYTELO for $125 million, further expanding its portfolio. The company also announced the establishment of its inaugural Prize for Impact in Healthcare, which could enhance its reputation and influence in the healthcare sector. These strategic moves and financial achievements have likely bolstered investor confidence, driving the stock's upward movement.
Royalty Pharma's (RPRX) shares rose 1.26% to $27.00 in after-hours trading, following a close at $26.66 on November 29, 2024.