U.S. markets closed
  • S&P 500

    3,790.93
    +112.50 (+3.06%)
     
  • Dow 30

    30,316.32
    +825.43 (+2.80%)
     
  • Nasdaq

    11,176.41
    +360.97 (+3.34%)
     
  • Russell 2000

    1,775.77
    +66.90 (+3.91%)
     
  • Crude Oil

    86.31
    -0.21 (-0.24%)
     
  • Gold

    1,734.30
    +3.80 (+0.22%)
     
  • Silver

    21.12
    +0.02 (+0.10%)
     
  • EUR/USD

    0.9988
    +0.0161 (+1.64%)
     
  • 10-Yr Bond

    3.6170
    -0.0340 (-0.93%)
     
  • GBP/USD

    1.1464
    +0.0145 (+1.28%)
     
  • USD/JPY

    144.1280
    -0.4920 (-0.34%)
     
  • BTC-USD

    20,267.56
    +732.58 (+3.75%)
     
  • CMC Crypto 200

    460.91
    +15.47 (+3.47%)
     
  • FTSE 100

    7,086.46
    +177.70 (+2.57%)
     
  • Nikkei 225

    26,992.21
    +776.42 (+2.96%)
     

AbbVie Calls Off Early-Stage Trial For I-Mab's CD47-Targeted Blood Cancer Candidate

·1 min read
  • I-Mab (NASDAQ: IMABdisclosed in an SEC filing that AbbVie Inc (NYSE: ABBV) would discontinue the global Phase 1b study of lemzoparlimab combination therapy with azacitidine and venetoclax in myelodysplastic syndrome (MDS) and acute myelocytic leukemia (AML).

  • This decision was not based on any specific or unexpected safety concerns.

  • The study arose from the pact AbbVie and I-Mab inked in 2020 with $200 million upfront and more than a billion dollars in back-end payments.

  • The partnership will continue with "certain new anti-CD47 antibodies" or "other licensed products," I-Mab disclosed.

  • I-Mab stands to receive up to $1.295 billion in payments and tiered royalties under the amended deal.

  • The move comes days after Zai Lab Limited (NASDAQ: ZLABshelved a Phase I program of its CD47 inhibitor ZL-1201 after scoping out the competitive landscape.

  • I-Mab continues to develop lemzoparlimab with a near-term focus on initiating a Phase 3 trial in patients with MDS in China. To date, Phase 1 and Phase 2 clinical studies of lemzoparlimab in the U.S. and China with nearly 200 patients have shown a good safety profile without the need for a priming dosing regimen.

  • Price Action: IMAB stock is down 12.40% at $6.98 on the last check Wednesday. ABBV shares traded 1.14% lower at $140.93.

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.