Pfizer (PFE) has inked four-year research collaboration agreement with biotechnology company Beam Therapeutics (BEAM). The two are joining forces to advance the development of novel in-vivo base editing programs. PFE shares rose 0.93% to close at $56.24 on January 10.
Pfizer is a company that develops, manufactures, and distributes healthcare products, including medicine and vaccines. It specializes in areas of oncology, inflammation vaccines, and rare diseases.
Pfizer’s earnings report for Q4 2021 is scheduled for February 08, 2022. PFE dividends have increased over the past 12 months. The dividend yield currently stands at 2.81%.
The base editing program will leverage Beam’s proprietary in vivo technologies to address genetic diseases that target the liver, muscle, and central nervous system. Merging the technologies with Pfizer’s proven experience in should lead to transformative therapies.
Under the terms of the agreement, Beam is tasked with conducting all research activities on three undisclosed targets. On the other hand, Pfizer may opt for exclusive licenses to each development candidate. It will also be responsible for all development activities.
Beam is also mandated to receive $300 million in an upfront payment. Should Pfizer opt-in license rights on all the three targets under development, Beam would be eligible to milestone payments to a tune of $1.35 billion. Beam is also entitled to receive royalties on global net sales on each licensed program.
Beam – Acuitas Agreement
In addition, Pfizer has entered into a development and option agreement with Acuitas Therapeutic. The partnership paves the way for the company to gain access to valuable lipid nanoparticle formulation technology for use in mRNA vaccines and therapeutics. The company also gains access to license Acuitas LNP technology for up to 10 targets.
Last week, Bank of America Securities analyst Geoff Meacham upgraded Pfizer stock to a Buy from a Hold and increased the price target to $70 from $59 implying 24.47% upside potential to current levels. According to the analyst, The roll out of a oral COVID-19 therapy in 2022 should lead to more durable revenues and robust cash flow for Pfizer.
Please make sure to read and completely understand our disclaimer at https://www.wallstreetpr.com/disclaimer. While reading this article one must assume that we may be compensated for posting this content on our website.