3SBIO grants exclusive product licensing to Pfizer and issues USD 100 million in new shares, with stock price soaring over 30%
3SBIO (01530.HK) opened 14.9% higher this morning, reaching a high of 22 yuan. It is currently reported at 19 yuan, up 31.03%, with a trading volume of 44.33 million shares, involving 834 million yuan.
3SBIO announced that it has signed an exclusive licensing agreement with Pfizer (PFE.US), granting Pfizer exclusive rights to develop, manufacture, and commercialize its PD-1/VEGF bispecific antibody (SSGJ-707) in global regions outside of mainland China. The initial licensing fee and potential milestones could total up to 6.05 billion USD. Additionally, Pfizer plans to invest 100 million USD to subscribe for new shares issued by 3SBIO
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