Biokin Pharma Triggers Second $250 Million Milestone from Bristol Myers Squibb Deal; Shares Down 4%

MT Newswires Live

09/22

Sichuan Biokin Pharmaceutical (SHA:688506) subsidiary SystImmune has triggered the second $250 million near-term contingent payment under its global strategic cooperation agreement with Bristol Myers Squibb Yizekang project.

The milestone was achieved in the global third-phase pivotal registration clinical trial IZABRIGHT-Lung02 for Yizekang, according to a Tuesday filing with the Shanghai bourse.

Shares of the pharmaceutical company were down 4% in recent trade.

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