Alligator has agreed to sell all rights to the CD40 agonist mitazalimab to Biossil for USD 0.75m upfront, up to USD 108m in milestones and a mid-single-digit royalty. The sale ends Alligator's mitazalimab costs and keeps some upside for shareholders. After updating for the deal terms and reviewing our risk assumptions, our rNPV for mitazalimab is broadly unchanged, and we keep our fair value.
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