Australia's Acrux rises on deal with U.S.-based Padagis

Acrux

20/06/2022 05:14

** Shares of pharmaceutical co Acrux  ACR.AX  rise as much
as 3.1% to A$0.066, their highest since June 14
    ** Co enters https://www.asx.com.au/asxpdf/20220620/pdf/45b2140ph7pf74.pdf
 into an exclusive commercialisation agreement with U.S.-based
pharmaceutical manufacturer Padagis 
    ** Under deal, Padagis will be responsible for the
commercialisation of one of ACR's products including sales and
distribution
    ** Padagis and Acrux will share the profits generated from
the sales of the product - ACR
    ** The product is expected to be launched in the United
States during H2 of 2022
    ** Volumes are nearly 2.5 times their 30-day average of
about 170,000 shares
    ** Stock down ~36% YTD, as of last close

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))