Stock Track | REMEGEN Soars 8.84% in Pre-Market on Exclusive Licensing Deal with AbbVie

Stock Track

01/13

REMEGEN's stock surged 8.84% in pre-market trading on Tuesday following the announcement of an exclusive licensing agreement with AbbVie for its novel bispecific antibody drug, RC148. The deal grants AbbVie exclusive rights to develop, produce, and commercialize RC148 outside Greater China.

Under the agreement, REMEGEN will receive a $650 million upfront payment and is eligible for up to $4.95 billion in development, regulatory, and commercial milestone payments. Additionally, the company will earn tiered double-digit royalty rates on net sales outside Greater China. This agreement significantly boosts REMEGEN's financial outlook and validates the potential of its drug pipeline.

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The deal grants AbbVie exclusive rights to develop, produce, and commercialize RC148 outside Greater China.</p><p>Under the agreement, REMEGEN will receive a $650 million upfront payment and is eligible for up to $4.95 billion in development, regulatory, and commercial milestone payments. Additionally, the company will earn tiered double-digit royalty rates on net sales outside Greater China. 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