HK-listed HBM rises most in near 5 weeks on Bristol Myers Squibb deal

Shares of HBM Holdings 2142.HK rise 3.6% to HK$13.46, their biggest one-day pct gain since November 14

Stock on track for a second consecutive session of gains, if current trend holds

HBM says it has entered a multi-year, global strategic collaboration and license agreement with Bristol Myers Squibb to advance and accelerate multi-specific antibody discovery programmes

Company said it could receive payments totalling $90 million, development and commercial milestones of up to $1.035 billion, along with tiered royalties should Bristol Myers Squibb elect to advance all potential programmes

YTD, stock up 601.6%, Hang Seng Biotech Index .HSBIO up 67.8%