BeyondSpring: Said it Intends To Defend Itself In Its Dispute With Hengrui
Portfolio Pulse from Charles Gross
BeyondSpring Inc. is in a dispute with Jiangsu Hengrui Pharmaceuticals Co. over a commercialization and co-development agreement for the drug plinabulin. Hengrui has initiated an arbitration proceeding, alleging breach of agreement by BeyondSpring's subsidiary, Wanchunbulin, and is seeking a full refund of the upfront payment of 200M RMB (est. $27.5M). BeyondSpring intends to defend itself, stating the claims are without merit.
September 20, 2023 | 9:40 pm
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BeyondSpring is in a legal dispute with Hengrui over a drug development agreement. Hengrui is seeking a refund of the upfront payment, which could impact BeyondSpring's financials if the arbitration goes in Hengrui's favor.
The ongoing legal dispute and potential financial liability could negatively impact BeyondSpring's stock in the short term. The outcome of the arbitration could have significant financial implications for the company, especially if Hengrui's request for a refund of the upfront payment is granted.
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