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An announcement from Philogen SpA ( (IT:PHIL) ) is now available.
Philogen’s subsidiary, Philochem AG, has licensed the worldwide rights to OncoACP3, a new therapeutic and diagnostic agent for prostate cancer, to RayzeBio, a Bristol-Myers Squibb subsidiary, in a deal worth up to $1.35 billion plus royalties. This agreement marks a significant milestone, enhancing RayzeBio’s position in the radiopharmaceutical sector and promising a groundbreaking treatment option for prostate cancer, with Philochem receiving an initial payment and potential milestone payments, subject to regulatory approvals expected by the third quarter of 2025.
The most recent analyst rating on (IT:PHIL) stock is a Buy with a EUR25.00 price target. To see the full list of analyst forecasts on Philogen SpA stock, see the IT:PHIL Stock Forecast page.
More about Philogen SpA
Philogen is an Italian-Swiss biotechnology group focused on researching and developing pharmaceutical products for treating highly lethal diseases. The company aims to discover, develop, and commercialize innovative drugs for diseases with high unmet medical needs, primarily in oncology, but also potentially applicable to chronic inflammatory diseases.
Average Trading Volume: 10,230
Technical Sentiment Signal: Buy
Current Market Cap: €660.9M
For detailed information about PHIL stock, go to TipRanks’ Stock Analysis page.