Why Are BeiGene Shares Trading Lower Today
Portfolio Pulse from Vandana Singh
BeiGene Limited (NASDAQ:BGNE) shares are trading lower after the company mutually agreed to terminate a licensing deal with Novartis A/S (NYSE:NVS) and regained global rights to develop, manufacture and commercialize ociperlimab. The companies are also collaborating to develop another oncology candidate, tislelizumab, with Novartis securing development and commercialization rights in North America, Europe, and Japan.
July 11, 2023 | 4:45 pm
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NEGATIVE IMPACT
BeiGene's stock price is trading lower after terminating a licensing deal with Novartis. The company has regained global rights to ociperlimab.
The termination of the licensing deal with Novartis could be seen as a negative development by investors, leading to a drop in BeiGene's stock price. However, regaining global rights to ociperlimab could potentially lead to future revenue growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Novartis has mutually agreed to terminate a licensing deal with BeiGene. The company is also collaborating with BeiGene to develop another oncology candidate, tislelizumab.
The termination of the licensing deal with BeiGene might have a neutral impact on Novartis' stock price as the company continues to collaborate with BeiGene on another oncology candidate, tislelizumab.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80