tiprankstipranks

Abbisko Secures $85 Million from Merck for Pimicotinib Global Rights

Story Highlights
  • Abbisko Therapeutics received $85 million from Merck for pimicotinib’s global commercialization.
  • Pimicotinib shows promise in TGCT treatment, gaining multiple regulatory designations.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Abbisko Secures $85 Million from Merck for Pimicotinib Global Rights

Don’t Miss TipRanks’ Half-Year Sale

Abbisko Cayman Limited ( (HK:2256) ) has shared an update.

Abbisko Therapeutics has received an $85 million global commercialization option fee from Merck for pimicotinib (ABSK021), a CSF-1R inhibitor, under a licensing agreement. This fee will be recognized as revenue in 2025. The agreement allows Merck to commercialize pimicotinib worldwide, with Abbisko eligible for up to $605.5 million in milestone payments and royalties. Pimicotinib has shown promising results in treating tenosynovial giant cell tumor (TGCT) and has received multiple regulatory designations, highlighting its potential impact in the oncology market.

The most recent analyst rating on (HK:2256) stock is a Buy with a HK$18.00 price target. To see the full list of analyst forecasts on Abbisko Cayman Limited stock, see the HK:2256 Stock Forecast page.

More about Abbisko Cayman Limited

Abbisko Therapeutics Co., Ltd. is a Shanghai-based oncology-focused biopharmaceutical company dedicated to discovering and developing innovative medicines to address unmet medical needs in China and globally. Established in April 2016 by experienced drug hunters from top multinational pharmaceutical companies, Abbisko has developed a robust pipeline of precision oncology and immuno-oncology programs.

Average Trading Volume: 5,990,011

Technical Sentiment Signal: Buy

Current Market Cap: HK$5.8B

For detailed information about 2256 stock, go to TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1