Shares of biopharmaceutical firm Veru (VERU) are up over 11% or 12c per share to $1.15 in late day trading on Thursday, after announcing announcing the sale of its ENTADFI or finasteride and tadalafil, capsules business for benign prostatic hyperplasia BPH to Blue Water Vaccines (BWV) for $20M and up to an additional $80M from sales milestones. Under the terms of the agreement, Veru received $6M at closing and Blue Water is obligated to pay the Company an additional $4M in the Company’s fiscal year 2023, and an additional $10Mn in installments in the Company’s fiscal year 2024. In addition, Veru could receive up to an additional $80 million if certain ENTADFI sales milestones are achieved. Blue Water Vaccines is lower by 3% to $1.08 per share.
Published first on TheFly
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