What's Going On With ABVC BioPharma Stock?
Portfolio Pulse from Erica Kollmann
ABVC BioPharma, Inc. (NASDAQ:ABVC) shares surged after the company announced a legally binding term sheet with Chinese pharmaceutical company, Xinnovation Therapeutics Co., Ltd. The agreement allows for licensing fee income of $20 million and royalty income of 5% to 12% of net sales for ABVC BioPharma. The company also recently closed a registered direct offering where a single institutional investor acquired $1.75 million worth of the company's common stock.
August 04, 2023 | 9:23 am
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POSITIVE IMPACT
ABVC BioPharma's stock price is likely to increase in the short term due to the signing of a lucrative term sheet with Xinnovation Therapeutics and the recent successful direct offering.
The signing of the term sheet with Xinnovation Therapeutics is a positive development for ABVC BioPharma as it could bring in significant licensing and royalty income. Additionally, the successful closing of a direct offering indicates strong institutional investor interest in the company. Both these factors are likely to have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
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