Jade Biosciences secures exclusive antibody license with up to $22M in milestones
JBIO has more than doubled off its 52-week low of $6.67.
Summary
Jade Biosciences has secured a worldwide exclusive license from Paragon Therapeutics for monospecific and multispecific antibodies against an undisclosed target. The agreement includes up to $22 million in development and regulatory milestones, with $1.5 million already paid and $2.5 million due at first human dosing. This expands Jade Biosciences' pipeline, adding new potential product candidates and diversifying its development efforts.
At the time of this announcement, JBIO was trading at $21.81 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.3B. The 52-week trading range was $6.67 to $28.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.