Adlai Nortye signs $230M licensing deal with ASK Pharm
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 29 2025
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Should l Buy ANL?
Source: Globenewswire
Adlai Nortye Ltd's stock surged by 73.17% in pre-market trading, reaching a 20-day high. This significant price movement comes amid broader market weakness, with the Nasdaq-100 down 0.47% and the S&P 500 down 0.26%.
The surge is attributed to Adlai Nortye's exclusive licensing agreement with ASK Pharm for the development and commercialization of AN9025, which could be worth up to $230 million. This deal includes over $20 million in upfront payments and milestone payments, providing crucial funding for the early stages of the project. The collaboration aims to leverage both companies' strengths to accelerate the clinical and commercial potential of AN9025 in the Chinese market.
This partnership highlights Adlai Nortye's strategic positioning in the rapidly growing Chinese pharmaceutical market, particularly with AN9025, an oral small molecule pan-RAS inhibitor expected to enter Phase I clinical trials in early 2026. The deal not only enhances the company's financial outlook but also reinforces its commitment to addressing significant unmet medical needs.
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Analyst Views on ANL
About ANL
Adlai Nortye Ltd. is a Cayman Islands-based investment holding company. The Company is involved in the research and development of pharmaceutical products. It is a clinical-stage company focused on the development of targeted and immune-modulating cancer therapies. It is advancing an oncology pipeline, with Buparlisib (AN2025), a pan-phosphoinositide 3-kinase (PI3K) inhibitor, being evaluated in a registrational Phase three trial (NCT04338399) for patients with recurrent or metastatic head and neck squamous cell cancer (HNSCC) that has progressed after prior anti-programmed death-ligand 1 (PD-L1) treatment. It is also advancing multiple drug candidates, including AN4005, an oral small molecule PD-L1 inhibitor; AN8025, a multifunctional fusion protein acting as a T cell and antigen-presenting cell (APC) modulator; and AN9025, an oral small molecule pan-rat sarcoma virus (RAS) inhibitor. The Company’s subsidiary, Alpine Bioscience Ltd. (Alpine BVI), is an investment holding company.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Key Investor Support: The placement includes about $55 million of Class A shares sold to entities controlled by Chairman and CEO Yang Lu, demonstrating the management's strong belief in the company's future growth.
- Positive Stock Reaction: Following the financing announcement, Adlai Nortye's stock price surged approximately 25% in pre-market trading on Tuesday, reflecting investor optimism about the company's prospects and potentially attracting further interest.
- Strategic Implications: Yang Lu noted that this financing attracted a high-quality group of healthcare investors to support Adlai Nortye's innovative and potentially best-in-class RAS-targeting therapies, further solidifying the company's market position in the biopharmaceutical sector.
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- Key Investor Support: The placement includes about $55 million of Class A shares sold to entities controlled by Chairman and CEO Yang Lu, demonstrating the management's strong belief in the company's future growth.
- Positive Stock Reaction: Following the financing announcement, Adlai Nortye's stock price surged approximately 25% in pre-market trading on Tuesday, reflecting investor optimism about the company's prospects and potentially attracting further interest.
- Strategic Implications: Yang Lu noted that this financing attracted a high-quality group of healthcare investors to support Adlai Nortye's innovative and potentially best-in-class RAS-targeting therapies, further solidifying the company's market position in the biopharmaceutical sector.
See More
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- Spinoff Strategy: The spinoff aims to enhance Kunlunxin's independence and market valuation, which is expected to provide Baidu with more flexible capital operations and resource allocation, thereby strengthening its competitive position in the technology sector.
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