PTC Therapeutics has signed an up to $2.9 billion licensing deal with Novartis AG for the U.S. company's experimental drug for a rare neurological disorder, sending its shares up about 18.5% in premarket trading on Monday.

Key Takeaways Shares of PTC Therapeutics soared Monday when the pharmaceutical firm announced it struck a nearly $2 billion license and collaboration deal with Novartis.The deal gives Novartis global development,

On Monday, PTC Therapeutics, Inc. (NASDAQ:PTCT) signed an exclusive global license and collaboration agreement with Novartis AG (NYSE:NVS) for its PTC518 Huntington’s disease program, which includes related molecules.