Takeda And Protagonist Therapeutics, Inc. Enter Worldwide License And Collaboration Agreement For Rusfertide; Takeda To Make Upfront Payment Of $300M At Closing
Portfolio Pulse from Benzinga Newsdesk
Takeda and Protagonist Therapeutics have entered into a global license and collaboration agreement for Rusfertide. Takeda will make an upfront payment of $300 million at the closing of the deal.
January 31, 2024 | 9:08 pm
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NEUTRAL IMPACT
Takeda commits to a $300 million upfront payment in a collaboration with Protagonist Therapeutics for the development of Rusfertide.
While the deal is significant for Takeda, the impact on its stock price may be neutral in the short term due to the size of the company and the nature of the investment, which is a common business practice for large pharmaceutical companies.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Protagonist Therapeutics enters a significant collaboration with Takeda for Rusfertide, receiving a substantial upfront payment of $300 million.
The upfront payment of $300 million from Takeda is a significant financial boost for Protagonist Therapeutics. This collaboration is likely to be viewed positively by investors, potentially leading to a short-term increase in PTGX's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100