BMY - Bristol Myers Squibb Obtains Rights to LianBio's Mavacamten for China and Other Asian Markets

2023-10-24 07:33:36 ET

DENVER, Colo., Oct 24, 2023 ( www.247marketnews.com )- LianBio (NASDAQ: LIAN) stated, this morning, that Bristol Myers Squibb(NYSE: BMY) obtained LianBio’s exclusive rights, for a total upfront consideration of $350 million, to develop and commercialize mavacamten in Mainland China, Hong Kong, Macau, Taiwan, Singapore and Thailand, in conjunction with termination of the exclusive license agreement LianBio previously entered into with MyoKardia, Inc., which is now a wholly owned subsidiary of BMY.

LianBio is trading at $2.20, up $0.81 (+58.27%), on 384.6K premarket shares traded.

Its 52-week range is $1.11 to $2.90. Its next key inflection points are $2.55 and $2.80, and this could hit a new 52-week high today.

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