Evotec has received success payments from the US company in the area of protein degradation.
These amount to $ 75 million. Evotec said in Hamburg said that performance and program-dependent successes had triggered the payments. The program, which started three years ago, serves to identify high -relevant target structures in oncology, as it was said. Evotec has been cooperating with the US Pharmarse since 2018.
Evotec recovery stalls despite success in research alliance
The Evotec shares initially reached their chart -technical borders on Thursday. Success in a partnership with the Pharmaceutical company Bristol-myers Squibb initially caused a clear course plan. After a price increase of about half within less than three weeks, investors took profits with them. Finally, the price of the share in the MDax was slept into the red at EUR 7.03 via Xetra. A more positive recommendation from Deutsche Bank did not change that.
At the top, almost 7.60 euros were paid for the shares on Thursday, which means a high since the beginning of March. For the first time during this period, the course rose again via the 200-day line, which is a very popular long-term indicator for investors. However, the joy over it lasted briefly, because recently the course was again by far under this line with a good seven euros. In the course of the customs-related stock market faults on April 7, the Evotec shares had been at five euros at their low since 2016.
Evotec had announced on Thursday that there were strong progress in the field of protein degradation in the long-term collaboration with the Pharmaceutical company Bristol-myers Squibb. Evotec therefore now flows a total of $ 75 million in accordance with the agreement.
The warm money blessing should come at the right time for the group, which heralded a profound renovation after a drop in profits last year. Evotec has been working with Bristol-myers Squibb since 2018 and had expanded the partnership in 2022.
Regardless of this message, Deutsche Bank gave up its previous sales recommendation for Evotec on Thursday. Analyst Fynn Scherzler referred to the new goals of the company that had been presented a week ago. These offer urgently needed orientation and made an achievable impression for 2025. Nevertheless, the current year will remain a transition year, he argued for his now neutral assessment with “Hold”.
Dow Jones/Frankfurt (dpa-Afx broker)
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