HK-listed Alphamab Oncology jumps most in 3 months on licence agreement

3D Medicines

25/01/2024 04:08

** Shares of Alphamab Oncology  9966.HK  jump 9% to HK$5.08,
their biggest intraday pct gain since Oct 27
    ** Stock hits the highest since Jan 19, and on track for a
second session of gains, if trend holds  
    ** Co says its unit and 3D Medicines  1244.HK  have entered
into a licence agreement to grant Glenmark Pharmaceuticals'
 GLEN.NS  unit, Glenmark Specialty, an exclusive licence and
right to develop and commercialize oncology drug KN035 in India
and Asia Pacific among others
    ** Under the agreement, Alphamab's unit and 3D Medicines
will receive from Glenmark up to $700.8 million upfront and
milestones payments subject to achievement of development,
regulatory and commercialization milestones
    ** Hang Seng Commerce & Industry Index  .HSNC  adds 1.3%,
healthcare index  .HSCIH  gains 0.5%, and Hang Seng Index  .HSI 
rises 1.4%
    ** Alphamab stock down 25.6% YTD 

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))