On the 13th, shares of ABL Bio, a developer of dual antibody platforms, rose by about 3% after news broke that the company received a contract payment of 739 billion won from a technology transfer.
As of 9:15 a.m. on the 13th, ABL Bio shares were trading at 61,700 won, up 2,000 won (3.35%) compared to the previous trading day in the KOSDAQ market.
The improved buying sentiment is interpreted as a result of alleviated concerns about contract termination following the announcement of receiving a contract payment with no refund obligation.
Earlier, ABL Bio announced on the 12th that it had received a platform technology transfer contract payment of approximately 739 billion won from the global pharmaceutical company GlaxoSmithKline (GSK).
ABL Bio has signed a contract to transfer its brain delivery platform technology to GSK for up to 3.9623 trillion won. ABL Bio plans to receive a maximum contract payment of 1.48 billion won, including the 739 billion won transfer payment, along with short-term milestones.