AVROBIO Announces Agreement To Sell Cystinosis Gene Therapy Program To Novartis For $87.5M
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AVROBIO has agreed to sell its Cystinosis Gene Therapy Program to Novartis for $87.5 million.
May 22, 2023 | 11:08 am
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POSITIVE IMPACT
AVROBIO sells its Cystinosis Gene Therapy Program to Novartis, potentially boosting its financial position.
The sale of the Cystinosis Gene Therapy Program to Novartis for $87.5 million will likely have a positive impact on AVROBIO's financial position, as it will provide a significant cash infusion. This could lead to a short-term increase in AVRO's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Novartis acquires Cystinosis Gene Therapy Program from AVROBIO, potentially expanding its gene therapy portfolio.
The acquisition of the Cystinosis Gene Therapy Program from AVROBIO for $87.5 million will potentially expand Novartis' gene therapy portfolio. This could have a positive impact on Novartis' stock price in the short term, as it demonstrates the company's commitment to investing in innovative therapies.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 100