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HENGRUI PHARMA Spikes 13%+ PM upon Global Strategic Collaboration & License Agreements w/ BMS
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HENGRUI PHARMA (01276.HK) closed at HKD67.7 in the morning session today (12th), up 2.5%. The company announced at noon that it had reached global strategic collaboration and license agreements with Bristol-Myers Squibb Company (BMS)(BMY.US), which would bring in USD950 million in related payments. The share price rallied in the afternoon, last trading at HKD75, up 13.55%, with 5.6465 million shares traded, amounting to HKD394 million. HENGRUI PHARMA (600276.SH) A-shares last soared 5.6% at RMB56.49. HENGRUI PHARMA announced that it had entered into global strategic collaboration and license agreements with BMS to advance a portfolio of 13 early stage programs in oncology, hematology and immunology. Under the agreement, BMS will pay HENGRUI PHARMA up to USD950 million, including a USD600 million upfront payment, a USD175 million first anniversary payment, and a second contingent anniversary payment of USD175 million in 2028. The potential total value of the agreements is up to approximately USD15.2 billion, including the exercise of available options for the joint discovery programs and the achievement of applicable development, regulatory, and commercial milestones for all programs. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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