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CSPC PHARMA Opens Up 7.6%, Currently Engaged in Talks for 3 Potential Deals Totaling ~USD5B
Recommend 2 Positive 15 Negative 9 |
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Blue-chip pharma stock CSPC PHARMA (01093.HK) opened 7.61% higher this morning (30th) at HKD8.2, with a pre-market volume of 13.568 million shares, involving HKD111 million. CSPC PHARMA announced this morning before market open that it is currently in negotiations with certain independent third parties regarding three potential transactions involving license and collaboration in relation to the development, manufacturing and commercialization of its certain products, including epidermal growth factor receptor antibody drug conjugate (EGFR-ADC) and other pharmaceutical products developed under its technology platforms. The potential upfront payments, potential development milestone payments, potential commercialization milestone payments that may be payable to the group under each of the potential transactions may amount to approximately USD5 billion in aggregate. One of the potential transactions is at an advanced stage and is currently expected to be finalized in June. The terms and conditions of the potential transactions are yet to be finalized and no definitive agreement has been entered into by the group regarding the potential transactions as of now. As such, the potential transactions may or may not proceed. AAStocks Financial News |
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