Why Is Immuno-Oncology Firm Harpoon Therapeutics Stock Trading Lower Today?
Portfolio Pulse from Vandana Singh
Harpoon Therapeutics Inc's (NASDAQ:HARP) stock is trading lower after AbbVie Inc (NYSE:ABBV) decided not to exercise its exclusive license option within the Development and Option Agreement regarding Harpoon's HPN217 program. The termination of this agreement will take effect on October 12, 2023. This decision means that the HPN217 program will continue to be owned exclusively by Harpoon.
September 14, 2023 | 3:31 pm
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NEUTRAL IMPACT
AbbVie's decision not to exercise its license option for Harpoon's HPN217 program may indicate a shift in its strategic focus.
AbbVie's decision not to exercise its license option for Harpoon's HPN217 program may indicate a shift in its strategic focus. However, without further information, it's unclear how this decision will impact AbbVie's stock in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Harpoon Therapeutics' stock is trading lower due to AbbVie's decision not to exercise its license option for Harpoon's HPN217 program.
AbbVie's decision not to exercise its license option for Harpoon's HPN217 program implies a potential loss of revenue for Harpoon, which is likely causing the stock to trade lower.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100