Alteogen Enters $579 Million Licensing Deal with Biogen
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 days ago
0mins
Should l Buy BIIB?
Source: NASDAQ.COM
- Stock Price Surge: Shares of Alteogen Inc. rose approximately 6% in South Korea, closing at 381,000 won, reflecting market optimism regarding the exclusive licensing agreement with Biogen, indicating strong investor confidence in the company's future prospects.
- Deal Details: Under the agreement, Biogen gains rights to develop and commercialize ALT-B4 using Hybrozyme technology, with a total deal value of up to $579 million, highlighting Biogen's recognition of the technology's potential market value.
- Upfront Payments and Milestones: Alteogen will receive an upfront payment of $20 million and an additional $10 million upon the initiation of the second product's development, along with potential milestone payments of up to $549 million, significantly enhancing the company's liquidity.
- Future Revenue Streams: Following commercialization, Alteogen will be entitled to royalties based on net sales, providing a continuous revenue stream that could further enhance the company's market position through the success of future products.
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Analyst Views on BIIB
Wall Street analysts forecast BIIB stock price to rise
26 Analyst Rating
11 Buy
14 Hold
1 Sell
Moderate Buy
Current: 183.840
Low
143.00
Averages
204.45
High
246.00
Current: 183.840
Low
143.00
Averages
204.45
High
246.00
About BIIB
Biogen Inc. is a global biopharmaceutical company. The Company is focused on discovering, developing, and delivering advanced therapies for people living with serious and complex diseases worldwide. It operates a portfolio of medicines to treat multiple sclerosis (MS), spinal muscular atrophy (SMA), Alzheimer's disease, and amyotrophic lateral sclerosis (ALS). It is focused on advancing its pipeline in neurology, specialized immunology, and rare diseases. Its marketed products include TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for the treatment of MS; SPINRAZA for the treatment of SMA; SKYCLARYS for the treatment of Friedreich's Ataxia; QALSODY for the treatment of ALS, and FUMADERM for the treatment of severe plaque psoriasis. It also collaborations with Eisai on the commercialization of LEQEMBI for the treatment of Alzheimer's disease and Sage on the commercialization of ZURZUVAE for the treatment of Postpartum Depression (PPD).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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