On June 9, 2023, Sutro Biopharma, Inc. Received A Notice Of Termination From Celgene Corporation, A Bristol Myers Squibb Company, Of The Amended And Restated Collaboration And License Agreement, Dated As Of August 2, 2017, Effective As Of October 7, 2023
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Sutro Biopharma (STRO) received a notice of termination from Celgene Corporation, a Bristol Myers Squibb (BMY) company, for their collaboration and license agreement dated August 2, 2017, effective October 7, 2023.
June 14, 2023 | 8:38 pm
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Sutro Biopharma's collaboration and license agreement with Celgene Corporation, a Bristol Myers Squibb company, has been terminated, effective October 7, 2023.
The termination of the collaboration and license agreement with Celgene Corporation, a major player in the industry, could negatively impact Sutro Biopharma's future prospects and revenue streams. This may lead to a decrease in STRO's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Bristol Myers Squibb's subsidiary, Celgene Corporation, has terminated its collaboration and license agreement with Sutro Biopharma, effective October 7, 2023.
While the termination of the collaboration and license agreement with Sutro Biopharma may have some impact on Bristol Myers Squibb's subsidiary, Celgene Corporation, it is not expected to significantly affect BMY's overall performance and stock price in the short term.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 60