ABVC - $460M First Milestone Payment of Global Licensing Fees has this BioPharma Listing Flying

2024-01-03 08:13:35 ET

DENVER, Colo., Jan. 3, 2024 ( www.247marketnews.com )- ABVC BioPharma, Inc. (NASDAQ: ABVC) and its subsidiary, BioLite, Inc., stated, this morning, that they received an aggregate of 46 million shares from AiBtl BioPharma Inc. (“AiBtl”), as its first milestone payment under a global licensing agreement. The agreement between the Company and AiBtl, a private company, placed a value of $460 ($10 per share) on such payment, based on an independent third party valuation report.

ABVC BioPharma is trading at $1.91, up $0.71 (+59.17%), on 9.8M shares traded.

Its 52-week range is $0.6739 to $18.70. It hit a premarket high of $2.65 and this morning’s move is its biggest since October while today’s news seems to be more significant that that, …

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