Jacobio Pharmaceuticals (HKG:1167) said its indirect subsidiary, Beijing Jacobio, has received an upfront payment of 125 million yuan from Oceanpine Capital under previously announced capital increase and equity transfer agreements, according to a Tuesday Hong Kong bourse filing.
Shares of the firm were down nearly 3% in Wednesday morning trade.
The company said the funds will strengthen its cash position and support the development of its oncology drug pipeline.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments