Adlai Nortye signs $230M licensing deal with ASK Pharm

Written by Emily J. Thompson, Senior Investment Analyst

Source: Globenewswire

Updated: 29 Dec 25

Source: Globenewswire

Adlai Nortye Ltd's stock surged by 73.17% in pre-market trading, reaching a 20-day high. This significant price movement comes amid broader market weakness, with the Nasdaq-100 down 0.47% and the S&P 500 down 0.26%.

The surge is attributed to Adlai Nortye's exclusive licensing agreement with ASK Pharm for the development and commercialization of AN9025, which could be worth up to $230 million. This deal includes over $20 million in upfront payments and milestone payments, providing crucial funding for the early stages of the project. The collaboration aims to leverage both companies' strengths to accelerate the clinical and commercial potential of AN9025 in the Chinese market.

This partnership highlights Adlai Nortye's strategic positioning in the rapidly growing Chinese pharmaceutical market, particularly with AN9025, an oral small molecule pan-RAS inhibitor expected to enter Phase I clinical trials in early 2026. The deal not only enhances the company's financial outlook but also reinforces its commitment to addressing significant unmet medical needs.

ANL

$6.53+Infinity%1D

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About ANL

Adlai Nortye Ltd. is a Cayman Islands-based investment holding company. The Company is involved in the research and development of pharmaceutical products. It is a clinical-stage company focused on the development of targeted and immune-modulating cancer therapies. It is advancing an oncology pipeline, with Buparlisib (AN2025), a pan-phosphoinositide 3-kinase (PI3K) inhibitor, being evaluated in a registrational Phase three trial (NCT04338399) for patients with recurrent or metastatic head and neck squamous cell cancer (HNSCC) that has progressed after prior anti-programmed death-ligand 1 (PD-L1) treatment. It is also advancing multiple drug candidates, including AN4005, an oral small molecule PD-L1 inhibitor; AN8025, a multifunctional fusion protein acting as a T cell and antigen-presenting cell (APC) modulator; and AN9025, an oral small molecule pan-rat sarcoma virus (RAS) inhibitor. The Company’s subsidiary, Alpine Bioscience Ltd. (Alpine BVI), is an investment holding company.

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.

Adlai Nortye signs $230M licensing deal with ASK Pharm

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About ANL

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