JACOBIO-B (01167) saw its shares plummet by 12.58% during the intraday session on Monday, following the announcement of a significant licensing deal with AstraZeneca.

The decline came after Jacobio Pharmaceuticals Group sold the worldwide license for its drug JAB-23E73 to AstraZeneca, excluding China, Hong Kong, Macau, and Taiwan. The deal includes an upfront payment of up to $100 million and potential future considerations of up to $1.92 billion, along with royalties on sales. Despite the financial benefits, investors reacted negatively, possibly due to concerns over the company's long-term strategy or revenue streams.

JAB-23E73 is a tumor medicine targeting KRAS gene alterations, and the deal involves co-development and co-commercialization in the excluded regions. The market's reaction highlights investor sensitivity to major licensing agreements and their perceived impact on future growth.