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XTALPI Opens 15% Higher This Morning as It Receives US$51M Initial Payment on Agreement with DoveTree
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XTALPI (02228.HK) opened 15% higher today, and peaked at $8.1. The stock last printed at $7.59, spiking 15%, with a trading volume of 21.914 million shares, involving $166 million. XTALPI announced yesterday that its indirect wholly-owned subsidiary, Shenzhen XtalPi, has received an initial payment of approx. US$51 million under the definitive agreement with DoveTree. Subject to the terms of the definitive agreement, the Group is entitled to receive a further payment of US$49 million, and is eligible to receive potential regulatory and commercial milestone payments of up to US$5.89 billion, as well as potential royalties based on a single-digit percentage of the annual net sales of the products. AAStocks Financial News Website: www.aastocks.com |
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