Biotech Shares Soar Premarket - InvestingChannel

Biotech Shares Soar Premarket

A New Jersey-based biotech company is already finding a tremendous amount of success during Tuesday’s premarket hours after it was announced that the company has entered into an agreement with Bristol Myers Squibb (BMS), whereby BMS has obtained LianBio’s exclusive rights to develop and commercialize mavacamten in Mainland China, Hong Kong, Macau, Taiwan, Singapore and Thailand, according to the release.

This naturally sent shares of LianBio (Nasdaq:LIAN) soaring early on Tuesday, with shares of this small cap currently bid up at $2.46/share (+76.98% implied open for sellers) at the time of writing. This should be an exciting session for this stock!

LianBio is a science-driven biopharmaceutical company dedicated to developing and commercializing innovative medicines for patients with unmet medical needs, with an initial focus on in-licensing assets for Greater China and other Asian markets. It is advancing a diversified portfolio of clinically validated product candidates with the potential to drive new standards of care across cardiovascular, oncology, ophthalmology, inflammatory disease and respiratory indications.

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