AbbVie ( NYSE:ABBV ) and Immunome (IMNM) have made a deal to work together to find up to 10 new antibody-target combinations that can be used to treat cancer.
Immunome’s (IMNM) work on human memory B cells is used to find useful antibodies.
Premarket trading for AbbVie stock ( NYSE:ABBV ) has seen a 25% increase.
Immunome (IMNM) will get up to $70 million in platform access fees, on top of the $30 million it will get right away. Also available to the corporation are tiered royalties on sales and commercial milestones worth up to $120 million for each target.
January’s Forecast for AbbVie Stock
Over the last year, AbbVie shares have increased by more than 19%. The North Chicago-based pharmaceutical company was able to do this by allaying investors’ concerns that it wouldn’t be able to replace the money it would lose when Humira, a drug it produces to treat autoimmune illnesses, loses patent protection in the US. The medicine is the best-selling product of all time.
AbbVie Net Debt
The graphic below, which you can click for more information, demonstrates that AbbVie’s debt was US$70.0 billion at the end of September 2022, down from US$80.7 billion over a year earlier. Its net debt is $58.1 billion due to $11.9 billion in cash on hand.
What Kind of Balance Sheet Does AbbVie Have?
According to the most current balance sheet, AbbVie has liabilities of US$32.7 billion that are due in the next year and US$92.6 billion that are due after that. It had US$11.9 billion in cash and US$10.7 billion in receivables that were due in the next year to offset these liabilities. T...
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