Nuvectis Pharma Inc

Haisco Pharmaceutical Group has signed an exclusive licensing agreement granting US-based Nuvectis worldwide rights outside specified Asian territories to develop, manufacture and commercialise drug candidates HSK42360 and HSK39297. Haisco will receive $40 million in upfront and near-term payments, with potential additional milestone payments totalling as much as $1.4 billion, plus tiered royalties on net sales. The first four milestone payments may be made in a mix of cash and common stock, with the equity component capped at under 40% of the milestone value. HSK42360 is a BRAF paradoxical breaker inhibitor in a Phase I trial in China, while HSK39297 is a complement factor B inhibitor with two new drug applications submitted in China for paroxysmal nocturnal haemoglobinuria. The agreement is subject to financing conditions to ensure Nuvectis can support development activities.

Several biotech stocks posted sharp gains Monday, led by Tenon Medical after an S-1 filing, Nuvectis Pharma on a licensing deal with Haisco, and REGENXBIO on a regulatory reversal for its Hunter syndrome gene therapy. Tenon filed to offer up to 1.81 million shares and 6.98 million warrants at $0.6021 per unit, with shares closing up 77.57% at $0.62. Nuvectis announced exclusive ex-China rights to two clinical-stage compounds, NXP100 and NXP200, from Haisco Pharmaceutical Group, sending its stock up 19.61% to $16.53. REGENXBIO gained 16.28% to $9.07 after the FDA agreed that existing data for NAVSUNLI is sufficient for an accelerated approval resubmission, with a Type A meeting set for next month and BLA resubmission expected in the third quarter of 2026. Other notable movers included Azitra, up 33.95% after a shareholder letter outlined a 2026 roadmap for its cosmetic ingredient program ATR-COSF, and Apollomics and Faeth Therapeutics, both rising over 30% on no specific news.

Apogee Therapeutics shares surged 47% in premarket trading after AbbVie agreed to acquire the biotechnology company for $10.9 billion, marking AbbVie's largest acquisition in more than five years and aimed at bolstering its next-generation immunology pipeline. AbbVie rose 1.5% on the news. BitFuFu gained 8.2% after the Bitcoin miner unveiled a share repurchase program authorizing the buyback of up to $5 million of its Class A ordinary shares over a two-year period. Nuvectis Pharma climbed 5.7% after entering a licensing agreement with Haisco Pharmaceutical Group for exclusive ex-China rights to two clinical-stage drug candidates, adding a Complement Factor B inhibitor and a BRAF inhibitor to its pipeline. Palvella Therapeutics rose 5% after the U.S. Food and Drug Administration granted rolling review for its New Drug Application for QTORIN rapamycin, a treatment under development for microcystic lymphatic malformations. Chevron gained 1.3% after announcing a 20-year power purchase agreement with Microsoft to supply natural gas-fired electricity to a proposed data center campus in West Texas, with the project expected to deliver approximately 2.67 gigawatts of capacity and begin supplying power in 2028.