Why LianBio Stock Is Shooting Through the Roof This Week
LianBio (NASDAQ: LIAN) stock is skyrocketing this week. The biotech specialist's share price was up 165.5% from the previous week's market close heading into this Friday's daily trading session, according to data from S&P Global Market Intelligence.
LianBio published a press release on Oct. 24 announcing that it had entered into an agreement with Bristol Myers Squibb for the rights to develop and commercialize its mavacamten heart medication in mainland China, Hong Kong, Macau, Taiwan, Singapore, and Thailand.
The next day, LianBio also announced that it had presented favorable clinical trial data for its infigratinib drug for locally advanced or metastatic gastric cancer (GC) or gastroesophageal junction adenocarcinoma (GEJ) at this year's European Society for Medical Oncology (ESMO) Congress.
Source Fool.com
