BNTC - Axovant Sciences Failed To Mention Critical Information

On July 10th 2018 Axovant Sciences (AXON) announced a partnership with Benitec Biopharma (BNTC) for exclusive global rights to BB-301, now named AXO-AAV-OPMD, for the treatment of oculopharyngeal muscular dystrophy, or OPMD, and five additional gene therapy programs in neurological disorders.

Benitec will receive an upfront cash payment of $10 million and potentially an additional $17.5 million upon completion of four near-term milestones. Benitec is eligible to earn $187.5 million in total for other milestones, and retain 30% of the net profits on worldwide sales of AXO-AAV-OPMD.

Axovant Sciences

Axovant's pipeline