CHM is pleased to announce a partnership with Kite to develop CHM's leading CDH17 CAR-T up to approval and to take it to the market. Kite will take an initial stake up to 19.99% at 1.5c, a more than 100% premium to the last 5 day traded sp average. Kite's new CMO, Jennifer Chow, said that " We are thrilled to co-develop such potential asset and looking forward to bring better treatments to patients." On top of the new issued shares Kite will pay an up-front payment of USD100m, about AUD 160m.
How likely would that be? Normally as a Non-Holder, 99%, but going by today's reason for the delay, almost ZERO.
CHM Price at posting:
0.7¢ Sentiment: None Disclosure: Not Held
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