AbbVie (NYSE:ABBV) and Immunome (IMNM) have made a deal to work together to find up to 10 new antibody-target combinations that can be used to treat cancer.
Immunome’s (IMNM) work on human memory B cells is used to find useful antibodies.
Premarket trading for AbbVie stock (NYSE:ABBV) has seen a 25% increase.
Immunome (IMNM) will get up to $70 million in platform access fees, on top of the $30 million it will get right away. Also available to the corporation are tiered royalties on sales and commercial milestones worth up to $120 million for each target.
January’s Forecast for AbbVie Stock
Over the last year, AbbVie shares have increased by more than 19%. The North Chicago-based pharmaceutical company was able to do this by allaying investors’ concerns that it wouldn’t be able to replace the money it would lose when Humira, a drug it produces to treat autoimmune illnesses, loses patent protection in the US. The medicine is the best-selling product of all time.
AbbVie Net Debt
The graphic below, which you can click for more information, demonstrates that AbbVie’s debt was US$70.0 billion at the end of September 2022, down from US$80.7 billion over a year earlier. Its net debt is $58.1 billion due to $11.9 billion in cash on hand.
What Kind of Balance Sheet Does AbbVie Have?
According to the most current balance sheet, AbbVie has liabilities of US$32.7 billion that are due in the next year and US$92.6 billion that are due after that. It had US$11.9 billion in cash and US$10.7 billion in receivables that were due in the next year to offset these liabilities. This means that its liabilities total US$102.7 billion, which is more than its total cash and (near-term) receivables.
While this may sound like a lot, it is actually not that awful considering AbbVie’s enormous market capitalization of US$289.4b and the fact that, if necessary, it could raise funds to bolster its balance sheet. However, it is still important to pay special attention to its capacity for debt repayment.
Predictions For 2022 Biotech Stocks Vertex, Genmab, And AbbVie Stock Were On Point
Featured Image: Megapixl @ Avictorero
Author Jowi Kwasu 
