Shares of Dicerna Pharmaceuticals Inc. /zigman2/quotes/203776010/composite DRNA +1.28% rocketed 42% in premarket trade Monday, after the company said it will receive an upfront payment of $100 million as part of a licensing and research collaboration with Eli Lilly & Co. /zigman2/quotes/200106384/composite LLY +1.11% , to develop new medicines in the areas of cardio-metabolic disease, neurodegeneration and pain. Eli Lilly's stock was still inactive ahead of the open. Under terms of the deal, Eli Lilly has also made an equity investment of $100 million at a premium, and Dicerna will be eligible to receive up to $350 million per target in development and commercialization milestones. ""We are excited to collaborate with Dicerna and utilize their RNAi expertise to study targets that up until now have proven to be very technically challenging," said Eli Lilly Chief Scientific Officer Daniel Skovronsky. Dicerna shares have rallied 44% year to date through Friday, while Lilly's stock has climbed 26% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.12% has slipped 0.6%.