Absci Shares Up 9% Premarket; Financial Times Reported Sunday AstraZeneca Signed A Deal Worth Up To $247M With Absci To Design An Antibody To Fight Cancer
Portfolio Pulse from Charles Gross
Absci's stock rose 9% premarket following a report by the Financial Times that AstraZeneca has signed a deal with Absci worth up to $247M to design an antibody for cancer treatment.
December 04, 2023 | 10:20 am
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POSITIVE IMPACT
Absci's shares increased by 9% in premarket trading after the announcement of a significant deal with AstraZeneca worth up to $247M for cancer antibody design.
The deal with AstraZeneca is a strong validation of Absci's technology and capabilities in antibody design, which is likely to boost investor confidence and could lead to an increase in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
AstraZeneca has entered into a deal with Absci, potentially worth $247M, to design an antibody to combat cancer, which may have positive implications for its pipeline.
The partnership with Absci could enrich AstraZeneca's oncology pipeline with new antibody treatments, potentially improving its long-term growth prospects. Short term impact is positive due to the expansion of its cancer treatment portfolio.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80