logo
  

Stock Alert: La Jolla Pharmaceutical Soars On Deal With PAION

Shares of La Jolla Pharmaceutical Company (LJPC) are surging more than 40% Tuesday morning after it entered into an exclusive licensing agreement with PAION AG and its wholly owned subsidiary for GIAPREZA (angiotensin II) and XERAVA (eravacycline) in the European Economic Area, the United Kingdom and Switzerland.

As per the deal, La Jolla is entitled to receive an upfront cash payment of $22.5 million, commercial milestone payments of up to $109.5 million and double-digit tiered royalty payments based on net sales of GIAPREZA and XERAVA.

La Jolla granted PAION an exclusive license to commercialize GIAPREZA and XERAVA in the Territories.

GIAPREZA and XERAVA are approved by the FDA as well as the European Commission.

LJPC, currently at $5.71, has been trading in the range of $3.36- $9.38 in the last one year.

For comments and feedback contact: editorial@rttnews.com

Business News

Invest in the Best Biotech Stocks by Subscribing to RTT Biotech Investor.
Editors Pick
Oilfield services company Schlumberger Ltd. reported Friday a profit for the fourth quarter that surged 61 percent from last year, reflecting 13 percent higher revenues amid growth across all segments and regions. Both adjusted earnings per share and quarterly revenues topped analysts' estimates. Twitter Inc. has launched a new feature to allow some users of its Blue subscriber service to keep non-fungible tokens or NFTs as their profile pictures. Twitter Blue is now available in the US, Canada, Australia, and New Zealand. NFT is a crypto token, which is non-fungible, meaning that it can neither be transferred like money nor replaced with something else. Frozen Food Development is recalling specific lots of Lidl branded 12-ounce packages of Frozen Chopped Spinach citing the potential to be contaminated with Listeria monocytogenes, the U.S. Food and Drug Administration said. The product comes in 12-ounce poly bags, and items included in the recall are marked with lot # R17742 or R17963 on the back of the poly bag with a best by date of 09/10/23.
Follow RTT