Why LianBio Stock Is Ripping Higher Today
Portfolio Pulse from Erica Kollmann
LianBio (NASDAQ:LIAN) has entered into an agreement with Bristol Myers Squibb (NYSE:BMY) to sell its exclusive rights to develop and commercialize mavacamten in several Asian territories. LianBio will receive a one-time payment of $350 million and will be released from payment obligations of up to $127.5 million under the MyoKardia license agreement. Shares of LIAN surged following the announcement.
October 24, 2023 | 2:24 pm
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NEUTRAL IMPACT
Bristol Myers Squibb has acquired exclusive rights to develop and commercialize mavacamten from LianBio.
The acquisition of exclusive rights to mavacamten from LianBio is a strategic move for Bristol Myers Squibb, but its immediate impact on the company's stock price is uncertain.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
LianBio's agreement with Bristol Myers Squibb has led to a surge in its stock price.
The agreement with Bristol Myers Squibb is a significant financial boost for LianBio, leading to a surge in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100