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ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H ( (HK:1541) ) just unveiled an update.
ImmuneOnco Biopharmaceuticals (Shanghai) Inc. has terminated its License and Collaboration Agreement with Axion Bio, Inc., resulting in the reversion of all global development and commercialization rights for its oncology drug candidates IMM2510 and IMM27M outside the Greater China region back to the company, while allowing Axion only a limited license to wind down its clinical activities. The termination does not affect the US$35 million in upfront and milestone payments ImmuneOnco has already received, and the company emphasized its confidence in the therapeutic potential of IMM2510, a bispecific PD-L1/VEGF-targeting molecule, and IMM27M, an enhanced ADCC CTLA-4 antibody, stating it remains committed to accelerating their clinical development, which could strengthen its control over key pipeline assets and its strategic positioning in the immuno-oncology market.
The most recent analyst rating on (HK:1541) stock is a Hold with a HK$6.50 price target. To see the full list of analyst forecasts on ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H stock, see the HK:1541 Stock Forecast page.
More about ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H
ImmuneOnco Biopharmaceuticals (Shanghai) Inc. is a China-based biopharmaceutical company focused on developing innovative immuno-oncology therapies, including bispecific antibodies and next-generation monoclonal antibodies targeting key immune checkpoints such as PD-L1, VEGF and CTLA-4, with a market focus on cancer treatment in Greater China and globally.
Average Trading Volume: 2,162,071
Technical Sentiment Signal: Sell
Current Market Cap: HK$5.02B
Learn more about 1541 stock on TipRanks’ Stock Analysis page.