ABVC BioPharma to License Global Rights of CNS Drugs with the Indications of MDD and ADHD to AiBtl BioPharma for $667M

DENVER, Colo., Oct 26, 2023 (www.247marketnews.com)- ABVC BioPharma, Inc. (NASDAQ:ABVC) stated this morning, that it entered into a binding term sheet regarding a multi-year, global licensing agreement with AiBtl BioPharma for the Company’s CNS drugs with the indications of MDD (Major Depressive Disorder) and ADHD (Attention Deficit Hyperactivity Disorder) (the “Licensed Products”). The potential license will cover the Licensed Products’ clinical trial, registration, manufacturing, supply, and distribution rights.

ABVC BioPharma is trading at $1.33, up $0.48 (+56.47%), on 429.9K premarket shares traded.

Its 52-week range is $0.6739 to 18.70. It hit a new 52-week low on the 6th and today’s volume is easily its largest volume day in months, so this is potentially set to make a very strong move, especially if it catches enough shorts off guard.

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