Shares of medtech company Ainos (NASDAQ:AIMD) are soaring higher today after it announced a memorandum of understanding (MoU) for the commercialization of Veldona with Taiwan’s Merdury Biopharmaceutical.
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The move is aimed at advancing the commercialization of the formulation and the two companies will look at a potential investment and participation by Merdury in the Phase 3 study of the drug targeted for the treatment of oral warts in HIV-seropositive patients.
Moreover, the two companies will also look at Ainos licensing Merdury’s drug development platform and its ability to help Ainos in developing new manufacturing processes.
Despite today’s rise, shares of the company are still down about 90% over the past year. At the same time, a beta of one means the stock can be prone to wild gyrations.
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