AbbVie Inc. lowered its outlook for the quarter and year late Friday for research and development expenses and milestone payments to partners.
AbbVie Inc. executives lowered their outlook for the quarter and year in a filing with the Securities and Exchange Commission late Friday, which cited research and development expenses and milestone payments to partners.
AbbVie ABBV said it must pay out $243 million in milestone payments to partners for acquired in-process research and development, or IPR&D, in the fourth quarter, bringing the grand total for the year to $697 million. Accounting for IPR&D and milestone payments was recently required by the SEC for drugmakers because the regulatory agency considers creating performance measures that exclude normal expenses to be misleading.
On Thursday, CytomX Therapeutics Inc. CTMX said it was seeing “encouraging clinical activity” in its trials with AbbVie for a cancer treatment candidate. A request for comment on whether CytomX was receiving any of those milestone payment was not returned by time of publication.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Friday's Mega Millions lottery jackpot approaches $1-billion markWith no lottery winners matching all six numbers Tuesday, the Mega Millions jackpot has grown to nearly $1 billion, one of the largest prizes in the game’s history.
Read more »
Steph Curry Hopeful To Return Next Friday Versus SpursSteph Curry Hopeful To Return Next Friday Versus Spurs - RealGM Wiretap
Read more »
Prep sports roundup: Mater Dei, St. John Bosco set up Friday basketball showdownMater Dei got a road win over JSerra while St. John Bosco beat Servite on Wednesday in both team's Trinity League opener.
Read more »
Maywood courthouse closes Thursday down due to water leak, expected to reopen FridayThe Maywood Courthouse has closed down Thursday due to a water main break, Chief Judge Timothy C. Evans has announced.
Read more »
The first full moon of 2023 is on Friday nightThe first full moon of 2023 is just around the corner. Here's everything you need to know to catch January's Wolf Moon.
Read more »
Information guide for Mission League boys basketball ahead of opening night Friday, Jan. 6This information guide sets the table for the one of the best boys basketball leagues in the country. Check out stats from the best players and a full league schedule.
Read more »