ABVC Biopharma Inc
NASDAQ:ABVC
NASDAQ FSI:D. Deficient (Issuer failed to meet continued listing requirements)

  • LAST PRICE
    0.5499
  • TODAY'S CHANGE (%)
    0.0000 (0.0000%)
  • Bid / Lots
    0.5395/ 2
  • Ask / Lots
    0.5600/ 1
  • Open / Previous Close
    --- / 0.5499
  • Day Range
    ---
  • 52 Week Range
    0.4053
    2.4500
  • Volume
    100

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  • Nov 14, 2024

      Show headlines and story abstract

    • 9:00AM ET on Thursday Nov 14, 2024 by Dow Jones
      Companies Mentioned: ABVC

    • 9:00AM ET on Thursday Nov 14, 2024 by Dow Jones
      Companies Mentioned: ABVC

      In November 2023, each of ABVC and one of its subsidiaries, BioLite, Inc. ("BioLite"), entered a multi-year, global licensing agreement with AIBL for the Company and BioLite's CNS drugs with the indications of MDD (Major Depressive Disorder) and ADHD (Attention Deficit Hyperactivity Disorder). The potential license will cover the licensed products' clinical trials, registration, manufacturing, supply, and distribution rights. The licensed products for MDD and ADHD, owned by ABVC and BioLite, were valued at $667M by a third-party evaluation. The parties are determined to collaborate on the global development of the licensed products. The parties are also working to strengthen new drug development and business collaboration, including technology, interoperability, and standards development. As per each of the respective agreements, each of ABVC and BioLite shall receive 23 million shares of AIBL stock that the parties value at $10 per share (not independently validated) and if certain milestones are met, $3,500,000 and royalties equaling 5% of net sales, up to $100 million, which is not guaranteed.

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