Immunome, Zentalis Enter Exclusive, Worldwide License Agreement; Zentalis To Receive Up-front Payment Of $35M & Up To $275M Of Milestone Payments
Portfolio Pulse from Benzinga Newsdesk
Immunome and Zentalis Pharmaceuticals have entered into an exclusive, worldwide license agreement. Zentalis will receive an initial payment of $35 million in cash and Immunome common stock, with the potential to earn up to $275 million in milestone payments for ZPC-21 and the platform technology. Additionally, Zentalis is set to receive mid-to-high single-digit royalties.
January 08, 2024 | 12:15 pm
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NEUTRAL IMPACT
Immunome enters a licensing agreement with Zentalis, providing an upfront payment of $35M in cash and stock to Zentalis, with potential milestone payments up to $275M plus royalties.
The agreement could be positive for Immunome as it may lead to future revenues from milestone payments and royalties. However, the upfront payment and potential milestone payments represent significant cash outflows, which could impact the company's short-term financial position.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Zentalis Pharmaceuticals secures an exclusive license agreement with Immunome, receiving $35 million upfront in cash and stock, and up to $275 million in milestone payments, plus royalties.
The deal is likely to be seen as a positive development for Zentalis, providing immediate cash inflow and stock, with the potential for significant future earnings through milestone payments and royalties. This could positively influence investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90