LIAN $2.50s congestion zone up to $3-$3.18 a break there then $3.80s $4.82 and then wild possibly $6 next zone
8:48 AM EDT, 10/24/2023 (MT Newswires) -- LianBio (LIAN) said Tuesday it has reached an agreement with Bristol-Myers Squibb (BMY) that will give the latter exclusive rights to develop and market mavacamten in Mainland China, Hong Kong, Macau, Taiwan, Singapore, and Thailand.
LianBio said it will receive a one-time payment of $350 million.
Additionally, the company said that a previous agreement with MyoKardia, now a Bristol-Myers Squibb unit, to acquire these rights was terminated and LianBio will be released from payment obligations of up to $127.5 million in remaining milestone payments.
Earlier this year, the application for mavacamten for the treatment of adults with symptomatic obstructive hypertrophic cardiomyopathy was accepted for priority review in China, while LianBio received authorization in Macau and Singapore for the drug, the company said.
In connection with the new agreement, LianBio said its board has commenced a strategic review of the company and plans to provide an update in the first half of 2024.
