Calithera, Antengene Announce Licensing Agreement For CB-708 In Cancer Settings

Calithera Biosciences Inc (NASDAQ:CALA) and Antengene Corporation Ltd have announced an exclusive, worldwide license agreement for the development and commercialization of CB-708.
CB-708 is a highly potent, selective, orally-bioavailable small molecule inhibitor of CD73, currently in preclinical development for oncology.
Under the terms of the license agreement, Calithera will receive an upfront payment and potential milestone payments of up to $255 million.
Additionally, Calithera is eligible to receive tiered royalties on sales of the licensed product up to low double-digits.
Price Action: CALA shares are up 6.7% at $2.17 on the last check Monday.