Brief: Everest Medicines Says Has Immaterial Amount Of Cash On Deposit At Silicon Valley Bank

Everest Medicines

13/03/2023 01:24

March 13 (Reuters) - Everest Medicines Ltd  1952.HK :
    * HAS IMMATERIAL AMOUNT OF CASH ON DEPOSIT AT SILICON VALLEY
BANK
    * EXPECTS TO RECOVER MOST OF CASH ON DEPOSIT AT SVB
    * CONSIDERS INCIDENT WILL NOT HAVE MATERIAL ADVERSE EFFECTS
ON CO
    * AS AT MARCH 13, CO GOT ONE-TIME UPFRONT PAYMENT OF $280
MILLION
FROM IMMUNOMEDICS, INC UNDER TRANSITION SERVICES DEAL DATED 15
AUG 2022
    * NONE OF UPFRONT PAYMENT IS DEPOSITED AT SVB

Source text for Eikon:  ID:nHKS4CkcRx 
Further company coverage:  1952.HK 

 ((Reuters.Briefs@thomsonreuters.com;))