Why Is AbbVie Stock Trading Higher On Thursday?

Core Insights - IGI Therapeutics SA and AbbVie Inc. have entered into an exclusive licensing agreement for IGI's investigational asset ISB 2001, aimed at oncology and autoimmune diseases [1][2] - AbbVie will have exclusive rights to develop, manufacture, and commercialize ISB 2001 in North America, Europe, Japan, and Greater China [2] Financial Terms - IGI will receive an upfront payment of $700 million and is eligible for up to $1.225 billion in milestone payments, along with tiered, double-digit royalties on net sales [3] - The total potential financial benefit for IGI from this agreement could reach $1.925 billion [3] Product Details - ISB 2001 is a first-in-class trispecific T-cell engager targeting BCMA and CD38 on myeloma cells and CD3 on T cells, currently in Phase 1 for relapsed/refractory multiple myeloma [3] - Recent data from a study presented at the 2025 ASCO Annual Meeting showed a sustained overall response rate (ORR) of 79% and a complete/stringent complete response (CR/sCR) rate of 30% in heavily pretreated relapsed/refractory myeloma patients [4] Regulatory Status - The U.S. FDA granted ISB 2001 Orphan Drug Designation in July 2023 and Fast Track Designation for relapsed/refractory myeloma patients in May 2025 [5] Market Context - Other companies in the industry are also pursuing significant partnerships, such as AstraZeneca's reported talks with Summit Therapeutics for a $15 billion deal and BioNTech's agreement with Bristol Myers Squibb involving $1.5 billion upfront [5][6] - AbbVie’s stock price increased by 2.63% to $195.63 following the announcement [7]