Adaptimmune Therapeutics Says On April 10, Unit Of Co, Received Notice Of Termination Of Strategic Collaboration And License Agreement With Genentech; Termination Will Become Effective 180 Days After Date Of Receipt; As Result Of Termination, Co Not Entitled To Receive Further Milestones Or Other Payments Due After Termination Date
Portfolio Pulse from Benzinga Newsdesk
Adaptimmune Therapeutics announced that its unit received a notice of termination for its strategic collaboration and license agreement with Genentech. The termination will be effective 180 days after receipt, resulting in Adaptimmune not being entitled to further milestones or payments post-termination.
April 12, 2024 | 12:13 pm
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Adaptimmune Therapeutics will not receive further milestones or payments from Genentech after the termination of their agreement, potentially impacting financial projections and stock performance.
The termination of the strategic collaboration and license agreement with Genentech removes a potential source of revenue and milestones for Adaptimmune, likely leading to negative investor sentiment and a potential decrease in stock price in the short term.
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