BeiGene, Ltd. [NASDAQ: BGNE] and Singlomics Biopharmaceuticals, Ltd both entered into an exclusive license agreement for neutralizing COVID-19 antibodies.
The license agreement will allow BeiGene to develop, manufacture, and commercialize Singlomics’ investigational anti-COVID-19 antibodies, including DXP-593 and DXP-604 globally.
Shares of BeiGene had plummeted 0.63%, or down -1.58 during the trading of Wednesday. It has a closing price of $249.26. BeiGene had recorded the trading volume of 128.02K as compared to the average volume of 272.07K.
In the past 52-weeks of trading BeiGene’s stocks have changed between the low and high of $114.41-$256.01, respectively. It has exhibited the highest change of 117.87% from its 52-weeks low and the lowest change of -2.64% from its 52-weeks high.
If we turn our focus o its profitability, it has return on assets (ROA), return on equity (ROE), and return on investment (ROI) of -48.70%, -73.50%, and -85.60%, respectively.
Its Gross Margin is 70.40%. Continuing to look at its liquidity, it has a current ratio of 6.20. Similarly, its quick ratio is 6.10. This company has a total market capitalization of 21.75 billion.
Singlomics Biopharmaceutical has recognized multiple antibodies by using single-cell sequencing of convalescent blood samples from recovered patients with COVID-19.
It has shown the ability to neutralize the SARS-CoV-2, the virus that caused COVID-19 in the pre-clinical studies. Singlomics strived to find the potent neutralizing antibodies to develop a treatment.
BeiGene has a strong background in clinical development and the new agreement will give an opportunity to the companies to develop the potential treatment for COVID-19.
A phase 1 clinical trial is anticipated to commence in September with up to 30 healthy patients. Additionally, the phase 1/2 multinational trial with mild to moderate COVID-19 will also commence in October.
Singlomics will get an upfront payment. It will also receive payments upon the achievement of regulatory and commercial milestones.
Furthermore, Singlomics will also get tiered royalties, up to double-digits, on future product sales.