Biote Corp. shares rise 2.92% intraday after Novartis signs $5.2 billion licensing deal with Argo Biopharmaceutical.

Biote Corp. rose 2.92% intraday, with the company's stock price increasing due to the recent collaboration agreement between Novartis and Argo Biopharmaceutical. The agreement includes a commercial license for two new next-generation molecules for the treatment of severe hypertriglyceridemia and dyslipidemia, as well as a right of first refusal on BW-00112, which is currently undergoing Phase II clinical trials in the US and China.