BUZZ-Gubra surges on AbbVie partnership for obesity treatment
Shares in Gubra GUBRA.CO surge 29% at market open after the Danish biotech company signed a licensing deal with AbbVie ABBV.N to develop an amylin analog for obesity treatment
The partnership marks AbbVie's entrance into the obesity field, the companies say in a press release
Terms of the deal include $305 million as an upfront payment to Gubra and $1.875 billion in potential milestones, they add
Analysts at Van Lanschot Kempen view the terms as "attractive", saying they appear to be higher than the broker's valuation
Kempen adds AbbVie is a good partner for Gubra, as it can accelerate mid- and late-stage development of the GUBamy amylin analog programme, while offering infrastructure for a commercial launch
Gubra's shares were up 19% by 0824 GMT, on track for their best day ever
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