Collplant Biotechnologies Achieves Milestone Regarding Clinical Phase Dermal Filler Product, According To Its Agreement With Abbvie For The Development Of A Regenerative Dermal And Soft Tissue Filler Product, Triggering A Milestone Payment Of $10M
Portfolio Pulse from Benzinga Newsdesk
Collplant Biotechnologies has achieved a milestone in the development of a regenerative dermal and soft tissue filler product, according to its agreement with AbbVie. This accomplishment triggers a $10 million milestone payment.
June 26, 2023 | 11:03 am
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NEUTRAL IMPACT
AbbVie's partnership with Collplant Biotechnologies progresses as a milestone is reached in the development of a dermal filler product, resulting in a $10 million payment.
AbbVie's payment of $10 million to Collplant Biotechnologies signifies progress in their partnership. However, the short-term impact on AbbVie's stock price is likely to be neutral as the payment is part of the ongoing collaboration and not a major event.
CONFIDENCE 85
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
Collplant Biotechnologies achieves a milestone in its agreement with AbbVie for the development of a dermal filler product, resulting in a $10 million payment.
Collplant Biotechnologies' achievement of a milestone in its partnership with AbbVie is a positive development for the company. The $10 million payment will provide additional funding for the project, which could positively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100