Leap Therapeutics (NASDAQ:LPTX) spotted trading -53.80% off 52-week high price. On the other end, the stock has been noted 181.08% away from the low price over the last 52-weeks. The stock changed 51.93% to recent value of $1.61. The stock transacted 16812141 shares during most recent day however it has an average volume of 170.10K shares. The company has 23.26M of outstanding shares and 21.24M shares were floated in the market.
On Jan. 03, 2020, Leap Therapeutics (NASDAQ:LPTX) a biotechnology company developing targeted immuno-oncology therapeutics, and BeiGene, Ltd. (Nasdaq: BGNE; HKEX: 06160), a commercial-stage biopharmaceutical company focused on developing and commercializing innovative molecularly-targeted and immuno-oncology drugs for the treatment of cancer, released an exclusive option and license agreement for the clinical development and commercialization of DKN-01, Leap’s anti-Dickkopf-1 (DKK1) antibody, in Asia (excluding Japan), Australia, and New Zealand. Leap will retain exclusive rights for the development, manufacturing, and commercialization of DKN-01 for the rest of the world. In addition, Leap announced entering into an agreement for a $27 million equity financing with BeiGene and two institutional investors.
We are excited about the potential to combine our anti-PD-1 inhibitor tislelizumab with DKN-01 as there have been promising signals in a biomarker-defined population of gastric cancer patients in combination with checkpoint blockade, commented Yong (Ben) Ben, M.D., Chief Medical Officer, Immuno-Oncology at BeiGene. This collaboration with Leap is another example of our commitment to developing novel treatments to address unmet medical needs in Asia and around the world.
Under the terms of the agreement, Leap will receive an upfront cash payment of $3 million from BeiGene in exchange for granting BeiGene an option to an exclusive license to develop and commercialize DKN-01 in Asia (excluding Japan), Australia, and New Zealand, and will be eligible to receive an additional payment from BeiGene upon BeiGene’s exercise of the option following initial proof-of-concept studies. Additionally, Leap is eligible to receive payments from BeiGene based upon the achievement of certain development, regulatory, and sales milestones for a total deal value of up to $132 million, together with tiered royalties on any product sales of DKN-01 in the licensed territory. BeiGene will also make a $5 million equity investment in Leap as part of the contemporaneous $27 million equity financing.
Its earnings per share (EPS) expected to touch remained 63.70% for this year while earning per share for the next 5-years is expected to reach at -2.49%.
According to the most recent quarter its current ratio was 1.4 that represents company’s ability to meet its current financial obligations. The price moved ahead of 77.95% from the mean of 20 days, 67.56% from mean of 50 days SMA and performed 9.20% from mean of 200 days price. Company’s performance for the week was 46.36%, 109.09% for month and YTD performance remained 43.75%.