Prothena Says Bristol Myers Squibb Exercised Its Option To Obtain Exclusive Worldwide Commercial Rights For PRX005 And Will Pay Prothena $55M
Portfolio Pulse from Benzinga Newsdesk
Bristol Myers Squibb has exercised its option to obtain exclusive worldwide commercial rights for PRX005, an anti-tau antibody developed by Prothena for the potential treatment of Alzheimer's disease. Bristol Myers Squibb will pay Prothena $55M and will be responsible for development, manufacturing, and commercialization of PRX005.
July 10, 2023 | 8:12 pm
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POSITIVE IMPACT
Bristol Myers Squibb has acquired exclusive rights for PRX005, which could potentially strengthen its portfolio in the healthcare sector.
The acquisition of PRX005 could potentially strengthen Bristol Myers Squibb's portfolio in the healthcare sector. This could lead to increased investor confidence and a potential rise in stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Prothena will receive $55M from Bristol Myers Squibb for the exclusive rights to PRX005. This could potentially boost Prothena's revenues.
The $55M payment from Bristol Myers Squibb for the exclusive rights to PRX005 could potentially boost Prothena's revenues. This could lead to increased investor confidence and a potential rise in stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80