November 18, 2024 (Globalinvestorideas.com Newswire) Globalinvestorideas.com, a go-to platform for big investing ideas for stock traders, including biotech stocks reports on trading and news for HCW Biologics Inc. (NASDAQ: HCWB), a U.S.-based clinical-stage biopharmaceutical company focused on discovering and developing novel immunotherapies to lengthen healthspan by disrupting the link between inflammation and age-related diseases.
The stock made the NASDAQ top gainers list on big volume today on licensing news. HCW Biologics is trading at $1.5900, up 1.2881m, gaining 426.6644% on volume of over 461 Million as of this report. The stock had a day’s high of $2.51.
This is obviously a retail trader driven play and momentum will phase out unless there is more big news coming.
HCW Biologics and WY Biotech Co., Ltd., a China-based company specializing in the early-stage development of recombinant protein drugs and gene/cell therapies, announced today that they have entered into a worldwide exclusive license agreement to develop and commercialize one of HCWB’s product candidates generated with its new drug discovery platform for therapeutic use.
Key terms of the agreement include that WY Biotech has agreed to pay HCWB $7.0 million in an upfront payment, and HCWB is eligible to receive additional significant development milestone payments and double-digit royalties on future product sales. In addition, HCWB will share a substantial portion of the proceeds from a future transaction(s) involving the molecule, if such a transaction occurs. HCWB also has a payment-free, milestone-free, and royalty-free option to recapture the development and commercialization rights of this molecule for the United States, Canada, Central America, and South America (Opt-in Territory) after the conclusion of the Phase 1 clinical trial. WY Biotech is financially responsible for all costs associated with research and development, manufacturing, clinical development, regulatory approval, and commercialization for the molecule. HCWB will be responsible for costs associated with clinical development, regulatory approval, and commercialization in the Opt-in Territory, if HCWB exercises its opt-in rights. Both companies will work cooperatively in the development stage with a global focus for clinical development and partnering.
Recent news
https://finance.yahoo.com/news/hcw-biologics-wy-biotech-announce-120000184.html
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