Stock Market News
Fusion Antibodies shares dive as no agreement with MAB yet
Antibody engineering services firm Fusion Antibodies saw its shares plummet on Wednesday as it gave advance notice of the termination of its collaboration agreement with MAB Discovery unless a new deal is struck.
The collaboration agreement, which began in June 2016, dictated that Fusion would undertake high-throughput humanisation of antibodies developed by MAB, utilising the firm's CDRxTM platform.
As Fusion and MAB have not yet been able to agree a revised collaboration which would "provide greater clarity" concerning Fusion's role, though talks continue, the pair had to agree to terminate the current agreement on Wednesday, as it requires six months advance notice of its 31 December end-date.
Fusion chief executive Paul Kerr remained optimistic that a deal can be done.
"Fusion has strengthened its expertise in humanisation of rabbit antibodies through its collaboration with MAB Discovery. Working together, we have greatly reduced development times for highly specific, CMC-ready antibodies. We believe that there is potential for future revenues from our collaboration to date."
Talks between MAB and Fusion continue, but Fusion said that "there can be no guarantee" that the two companies will enter a replacement agreement.
As of 1445 BST, Fusion Antibodies' shares were down 17.96% at 137.00p.
The collaboration agreement, which began in June 2016, dictated that Fusion would undertake high-throughput humanisation of antibodies developed by MAB, utilising the firm's CDRxTM platform.
As Fusion and MAB have not yet been able to agree a revised collaboration which would "provide greater clarity" concerning Fusion's role, though talks continue, the pair had to agree to terminate the current agreement on Wednesday, as it requires six months advance notice of its 31 December end-date.
Fusion chief executive Paul Kerr remained optimistic that a deal can be done.
"Fusion has strengthened its expertise in humanisation of rabbit antibodies through its collaboration with MAB Discovery. Working together, we have greatly reduced development times for highly specific, CMC-ready antibodies. We believe that there is potential for future revenues from our collaboration to date."
Talks between MAB and Fusion continue, but Fusion said that "there can be no guarantee" that the two companies will enter a replacement agreement.
As of 1445 BST, Fusion Antibodies' shares were down 17.96% at 137.00p.
Related share prices |
---|
Fusion Antibodies (FAB) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price