AbbVie walks away from deal with Harpoon Therapeutics

14 September 2023

US clinical-stage immune-oncology firm Harpoon Therapeutics (Nasdaq: HARP) yesterday revealed that AbbVie has decided not exercise its exclusive license option in connection with Harpoon’s HPN217 program, which targets B cell maturation antigen, or BCMA.

The news saw Harpoon’s shares close down almost 4% on Wednesday and a further 3.2% to $6.33 pre-market today.

The agreement, which will terminate effective October 12, 2023, granted AbbVie an option to a worldwide, exclusive license to the HPN217 program. The program has been and will remain exclusively owned by Harpoon, and the company plans to complete the ongoing Phase I clinical trial with data to support the next phase of development.

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