XtalPi (HKG:2228) entered into a partnership with an international biopharmaceutical company to develop an oral small-molecule therapy targeting a G protein-coupled receptor, according to a Tuesday Hong Kong bourse filing.
The agreement carries a potential value of more than $400 million, including an upfront payment, research funding, development and commercial milestone payments, and future royalties.
Under the deal, the partner will fully fund XtalPi's early-stage research and development work.
Shares of the firm were down over 2% in late morning trade on Wednesday.
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