ContraFect: Jumps on BARDA funding for antibacterial development

CONTRAFECT

12/03/2021 16:19

** Drug developer's shares  CFRX.O  rise 2% to $6.48
    ** CFRX on Thursday after market said it was awarded a
cost-share contract from Biomedical Advanced Research and
Development Authority (BARDA)
    ** Co to get $9.8 mln in initial funding from the U.S.
government agency, and up to an additional $77.0 mln
 urn:newsml:reuters.com:*:nGNXbCxNwx
    ** Co says initial funding will be used to support its
ongoing pivotal late-stage study of its experimental
antibacterial exebacase for patients with a type of blood
infection
    ** Additional funding may be provided upon achievement of
key milestones to continue the advancement of exebacase- Co
    ** CFRX had gained 25.7% YTD as of its last close

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))