HK Stock Market Move | JACOBIO-B (01167) rises nearly 5%, company receives nearly $2 billion USD business deal from AstraZeneca. Company stated that the down payment ratio is above average.

JACOBIO-B (01167) rose by nearly 5%, reaching a gain of 4.86% at the time of publication, with a reported price of 7.77 Hong Kong dollars and a trading volume of 8.6439 million Hong Kong dollars. On the news front, on December 21st, Jacobio announced that it has reached a cooperation agreement with AstraZeneca on its self-developed Pan-KRAS inhibitor JAB-23E73. Jacobio will receive an initial payment of 100 million US dollars, and could receive up to a maximum of 1.915 billion US dollars in milestone payments based on development and commercialization progress, as well as royalties on net sales outside of China. The initial payment accounts for 5% of the total amount. During the media communication meeting held by Jacobio on December 22nd, Jacobio's Chairman and CEO Wang Yinxiang responded that this BD transaction is the largest authorization for a small molecule anti-tumor drug in the clinical stage in China in recent years. Wang Yinxiang also addressed the question of whether the initial payment was lower than expected. "Based on previous cases of small molecule anti-tumor drug transactions, generally speaking, the initial payment accounts for 3%-8% of the total transaction amount, which is considered reasonable. If it exceeds 10% of the total transaction amount, it is considered significant. In our case, the initial payment accounts for 5% of the total transaction amount, which is considered above average."