Kineta to Receive $5M Milestone Payment from Merck
Portfolio Pulse from Benzinga Newsdesk
Kineta, Inc. (NASDAQ:KA) has achieved a development milestone in its research and development collaboration with Merck (MRK), triggering a $5 million payment. The collaboration is focused on the discovery and development of novel candidates for the treatment of amyotrophic lateral sclerosis (ALS).
June 29, 2023 | 10:33 am
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NEUTRAL IMPACT
Merck is making a $5 million payment to Kineta following the achievement of a development milestone in their collaboration.
While the $5 million payment is a cost for Merck, it is part of their planned expenses in the collaboration with Kineta. Therefore, this news is unlikely to have a significant impact on Merck's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Kineta has achieved a development milestone in its collaboration with Merck, triggering a $5 million payment.
The achievement of a development milestone and the subsequent $5 million payment from Merck is a positive development for Kineta. This could potentially boost investor confidence and have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100