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Philogen SpA ( (IT:PHIL) ) has provided an announcement.
Philogen S.p.A. announced that its subsidiary, Philochem AG, has finalized a license agreement with RayzeBio, a Bristol-Myers Squibb subsidiary, for the therapeutic and diagnostic agent OncoACP3, aimed at treating prostate cancer. The agreement, effective following U.S. antitrust approval, includes an initial payment of $350 million to Philochem, with potential milestone payments up to $1 billion and royalties. This partnership is expected to enhance Philogen’s position in the biotechnology sector and advance RayzeBio’s leadership in radiopharmaceuticals, potentially revolutionizing prostate cancer treatment.
The most recent analyst rating on (IT:PHIL) stock is a Buy with a EUR33.00 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 specializing in the research and development of pharmaceutical products for treating highly lethal diseases. The company focuses on discovering, developing, and commercializing innovative drugs for diseases with high unmet medical needs, primarily in oncology, but also applicable to chronic inflammatory diseases.
YTD Price Performance: 9.23%
Average Trading Volume: 24,582
Technical Sentiment Signal: Buy
Current Market Cap: €622.9M
Learn more about PHIL stock on TipRanks’ Stock Analysis page.