Hofseth Biocare ASA (HOFBF) has released an update.
Hofseth BioCare ASA has announced the transfer of its drug candidate MA-022a, aimed at treating eosinophil-related conditions like asthma and eosinophilic esophagitis, to its subsidiary HBC Immunology Inc. This move, valuing the underlying patent at $4.5 million, will see HBC receiving shares in HBCI and is expected to result in a financial gain for HBC in the second quarter of 2024. The drug candidate demonstrates promise with a different treatment profile that could improve patient outcomes in these conditions.
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