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REMEGEN Once Spikes 14%+ After Granting AbbVie Exclusive License for RC148
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REMEGEN (09995.HK) opened 8.8% higher at $101 today (13th), and once spiked 14.9% to a high of $106.6 in the morning session. It last printed at $101.2, rallying 9.05%, with a trading volume of 7.2058 million shares, involving $740 million. REMEGEN entered into an exclusive licensing agreement with AbbVie, under which AbbVie will obtain exclusive rights to develop, manufacture, and commercialize RC148 outside the Greater China region. Upon effectiveness, the Company will receive an upfront payment of US$650 million and is eligible to receive up to US$4.95 billion in development, regulatory, and commercial milestone payments, as well as tiered double-digit tiered royalty payments on net sales outside the Greater China region. AAStocks Financial News Website: www.aastocks.com |
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