CSL's $1.55B Lixudebart Deal Adds Profit-Sharing and Pipeline Funding Details
CSL is trading near its 52-week low of $293.43 (12% above the low).
Summary
CSL expands its partnership with Alentis on lixudebart, an experimental antibody for rare kidney and liver diseases. The deal is now valued at up to $1.55B, including a $355M upfront payment and up to $1.2B in commercial milestones. Profit-sharing is set at 55% for CSL and 45% for Alentis. CSL will fund Phase 2 and planned Phase 3 studies in AAV-RPGN and advance Phase 2 programs in FSGS and PSC. This follows yesterday's initial report of the $355M upfront payment; today's disclosure adds the total deal value, profit split, and development funding commitments. The partnership strengthens CSL's rare disease pipeline with a late-stage asset.
At the time of this announcement, CSL was trading at $329.34 on NYSE in the Life Sciences sector, with a market capitalization of approximately $13.1B. The 52-week trading range was $293.43 to $432.91. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.