I-MAB Says Termination Of Agreement Will Take Effect On November 20, 2023; Will Not Affect Upfront And Milestone Payments Of $200M That The Company Has Received From AbbVie
Portfolio Pulse from Benzinga Newsdesk
I-MAB has announced that the termination of its agreement will take effect on November 20, 2023. However, this will not affect the upfront and milestone payments of $200M that the company has received from AbbVie.
September 22, 2023 | 8:12 pm
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NEUTRAL IMPACT
AbbVie's $200M payments to I-MAB will not be affected by the termination of their agreement.
AbbVie's financial commitment to I-MAB remains unchanged despite the termination of the agreement. This suggests that AbbVie's financial planning and commitments are stable, leading to a neutral short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
I-MAB's agreement termination will not affect the $200M payments received from AbbVie, providing financial stability.
The termination of the agreement could have been a potential risk for I-MAB's financial stability. However, the confirmation that the $200M payments from AbbVie will not be affected mitigates this risk, providing a neutral short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100