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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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
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