Why Is AbbVie Stock Trading Higher On Thursday?

IGI Therapeutics SA, a wholly owned subsidiary of New York-based Ichnos Glenmark Innovation Inc., and AbbVie Inc. (NYSE:ABBV), on Thursday, announced an exclusive licensing agreement for IGI’s lead investigational asset, ISB 2001, developed using IGI’s proprietary BEAT protein platform, for oncology and autoimmune diseases.

“Multispecifics including trispecific antibodies represent a new frontier in immuno-oncology with the potential to deliver deeper, more durable responses by engaging multiple targets simultaneously,” said Roopal Thakkar, AbbVie executive vice-president of research and development, and chief scientific officer.

AbbVie will receive exclusive rights to develop, manufacture and commercialize ISB 2001 across North America, Europe, Japan and Greater China.

IGI will receive an upfront payment of $700 million and is eligible to receive up to $1.225 billion in development, regulatory, and commercial milestone payments, along with tiered, double-digit royalties on net sales.

ISB 2001 is a first-in-class trispecific T-cell engager that targets BCMA and CD38 on myeloma cells and CD3 on T cells. It is currently in Phase 1 for relapsed/refractory multiple myeloma.

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Recently presented at the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting as a Rapid Oral Presentation, data from 35 patients demonstrated a sustained overall response rate (ORR) of 79% and a high complete/stringent complete response (CR/sCR) rate of 30% at active doses ≥ 50 µg/kg in a heavily pretreated population of relapsed/refractory myeloma patients, with a favorable safety profile.

U.S. Food & Drug Administration granted ISB 2001 Orphan Drug Designation in July 2023 and Fast Track Designation for relapsed/refractory myeloma patients in May 2025. 

What’s Going On With Other Companies: According to a July media report, AstraZeneca Plc (NASDAQ:AZN) was reportedly in talks with Summit Therapeutics Inc. (NASDAQ:SMMT) about a partnership worth up to $15 billion.

The deal would give AstraZeneca the rights to a lung cancer drug called ivonescimab.

In June, BioNTech SE  (NASDAQ:BNTX) and Bristol Myers Squibb & Co. (NYSE:BMY) entered into a co-development and co-commercialization agreement.

The pact focuses on BioNTech's investigational bispecific antibody BNT327 across numerous solid tumor types.

Bristol Myers Squibb will pay BioNTech $1.5 billion upfront and $2 billion in non-contingent anniversary payments through 2028. In addition, BioNTech will be eligible to receive up to $7.6 billion in additional development, regulatory and commercial milestones.

ABBV Price Action: AbbVie stock is up 2.63% at $195.63 at publication on Thursday.

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