Royalty Pharma and Teva Enter $500 Million Funding Agreement for TEV-408 Development
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: NASDAQ.COM
- Funding Agreement: Royalty Pharma will provide Teva with up to $500 million to accelerate the clinical development of TEV-408, reflecting strong confidence in treating immune-mediated diseases.
- R&D Collaboration: The agreement includes $75 million in co-funding for R&D to initiate a Phase 2b clinical trial planned for 2026, laying the groundwork for further development of TEV-408.
- Market Potential: Early Phase 1b data from Teva's ongoing vitiligo study suggests IL-15 could be an effective therapeutic target for various autoimmune diseases, potentially leading to significant market revenue if successfully launched.
- Milestone Payments: If TEV-408 is approved and launched, Teva will pay Royalty Pharma milestone payments along with royalties on worldwide net sales, further strengthening the financial partnership between the two companies.
Analyst Views on RPRX
Wall Street analysts forecast RPRX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for RPRX is 43.80 USD with a low forecast of 38.00 USD and a high forecast of 54.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
4 Buy
2 Hold
0 Sell
Moderate Buy
Current: 40.260
Low
38.00
Averages
43.80
High
54.00
Current: 40.260
Low
38.00
Averages
43.80
High
54.00
About RPRX
Royalty Pharma plc is a buyer of biopharmaceutical royalties and a funder of innovation across the biopharmaceutical industry. It collaborates with innovators from academic institutions, research hospitals and non-profits from small and mid-cap biotechnology companies to global pharmaceutical companies. It funds innovation in the biopharmaceutical industry both directly and indirectly. Directly when it partners with companies to co-fund late-stage clinical trials and new product launches in exchange for future royalties. Indirectly when it acquires existing royalties from the original innovators. Its portfolio includes royalties on more than 35 commercial products, including Vertex’s Trikafta and Alyftrek, Johnson & Johnson’s Tremfya, GSK’s Trelegy, Roche’s Evrysdi, Servier’s Voranigo, Biogen’s Tysabri and Spinraza, AbbVie and Johnson & Johnson’s Imbruvica, Astellas and Pfizer’s Xtandi, and Gilead’s Trodelvy, among others, and 20 development-stage product candidates.
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.
