Ascletis Faces Import Ban and Sanction in ITC Ruling

The latest announcement is out from Ascletis Pharma, Inc. ( (HK:1672) ).

Ascletis Pharma Inc. announced a final judgment from the United States International Trade Commission regarding legal proceedings with Viking Therapeutics. The ruling imposes a seven-year prohibition on importing its drug candidates ASC41 and ASC43F into the U.S. and a joint liability payment of $567,059.85 due to procedural disputes. Despite the ruling, Ascletis states that the decision will not adversely affect its current operations as it is not pursuing these drug candidates. The company plans to seek further legal advice on appealing the judgment and remains committed to protecting its trade secrets.

The most recent analyst rating on (HK:1672) stock is a Hold with a HK$3.94 price target. To see the full list of analyst forecasts on Ascletis Pharma, Inc. stock, see the HK:1672 Stock Forecast page.

More about Ascletis Pharma, Inc.

Ascletis Pharma Inc. is a pharmaceutical company incorporated in the Cayman Islands, focusing on developing innovative therapies for liver diseases, viral infections, and cancer. The company’s primary products include ASC41 and ASC43F, which are oral tablets targeting thyroid hormone receptor beta and farnesoid X receptor for the treatment of non-alcoholic steatohepatitis (NASH).

Average Trading Volume: 6,563,568

Technical Sentiment Signal: Buy

Current Market Cap: HK$6.88B

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