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Genscript Biotech ( (HK:1548) ) has provided an announcement.
Genscript Biotech Corporation announced that its subsidiary, ProBio, received approximately RMB479.7 million (US$67.5 million) as the second installment of sublicense revenue under an agreement with LaNova Medicines Ltd. This payment is related to the sublicense of anti-PD-1 single domain antibodies, which are part of LaNova’s investigational PD-1/VEGF bispecific antibody, LM-299. The cumulative payments received under this agreement now total approximately RMB2.0 billion (US$283.6 million). These funds will enhance ProBio’s cash reserves and support further molecular discovery and development, reinforcing its position in the biotechnology market.
The most recent analyst rating on (HK:1548) stock is a Hold with a HK$18.00 price target. To see the full list of analyst forecasts on Genscript Biotech stock, see the HK:1548 Stock Forecast page.
More about Genscript Biotech
Genscript Biotech Corporation is a company incorporated in the Cayman Islands, primarily operating in the biotechnology industry. The company and its subsidiaries focus on the development, manufacturing, and commercialization of biotechnological products, with a particular emphasis on innovative antibody solutions.
Average Trading Volume: 20,762,692
Technical Sentiment Signal: Buy
Current Market Cap: HK$36.41B
For detailed information about 1548 stock, go to TipRanks’ Stock Analysis page.