Corbus Pharma: Up after Cantor says bullish on Kaken deal
11/01/2019 12:32
** Drug developer's shares CRBP.O up nearly 12 pct at
$8.71 premarket
** Earlier this month, CRBP announced a pact with Kaken
Pharmaceutical 4521.T to develop and sell its lead drug
candidate, lenabasum, in Japan for an upfront payment of $27 mln
plus milestone payments of up to $173 mln urn:newsml:reuters.com:*:nGNX3TTJWz
** Brokerage Cantor says additional geographical
partnerships could arise in 2019 and beyond
** CRBP says these types of collaborations would be
beneficial - Cantor
** Cantor most bullish on the stock and raises PT to $38
from $36; median PT is $23
** Cantor maintains "overweight" rating; all 9 brokerages
covering the stock rate it at "buy"
** CRBP is the third biggest pct gainer among all
U.S.-listed stocks trading premarket
** Up to Thursday's close, stock down 3.35 pct in the last
12 months
(Reporting by Aakash Jagadeesh Babu in Bengaluru)
((Aakash.B@thomsonreuters.com; within the U.S. +16462238780,
outside the U.S. +91 80 67491576; Reuters Messaging:
Aakash.B.thomsonreuters.com@reuters.net))