PDSB - PDS Biotechnology slips 14% following German Merck licensing deal
- PDS Biotechnology ( NASDAQ: PDSB ) is down 14% in late Tuesday trading after the company l icensed a cancer drug candidate from Merck KGaA ( OTCPK:MKGAF ).
- Under the deal, Merck KGaA ( OTCPK:MKKGY ) will receive an upfront payment of $5M, up to $11 million in development and regulatory milestones, up to $105M in commercial milestones, as well as potential royalties.
- PDS Biotechnology ( PDSB ) was up ~57% in 2022 thanks to a rally that began in early November.
- Seeking Alpha's Quant Rating views PDS Biotechnology ( PDSB ) as a hold with strong marks for momentum and valuation .
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PDS Biotechnology slips 14% following German Merck licensing deal