ABVC Biopharma Inc ABVC shares are up 7% to $1.37 on Friday morning. Yesterday, the stock saw a 300% surge followed by a pullback after the company announced a term sheet for licensing global rights to AiBtl BioPharma for CNS drugs targeting MDD and ADHD, with a valuation of $667 million.
What’s the News?
ABVC has entered into a multi-year licensing agreement with AiBtl BioPharma for their CNS drugs targeting MDD and ADHD. The agreement covers clinical trials, registration, manufacturing, and distribution rights.
The deal also includes a 46 million-share stock allocation from AiBtl, milestone cash payments of $7 million, and potential royalties of up to $200 million based on a 5% share of net sales after the product launch.
AiBtl, an American company, plans to merge the health and resort industries and aims to go public on the NASDAQ in 2024.
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According to data from Benzinga Pro, ABVC has a 52-week high of $18.70 and a 52-week low of $0.67.
