Eagle Pharma up on unit's $50.3 mln contract

Eagle Pharmaceuticals

27/09/2022 17:04

** Shares of drug maker Eagle Pharmaceuticals Inc  EGRX.O 
rise 1.6% to $27.54
    ** EGRX says private firm Enalare Therapeutics Inc, in which
co has a stake, secures contract worth up to ~$50 mln from U.S.
govt agency to develop ENA-001, a potential treatment for drug
overdose  urn:newsml:reuters.com:*:nGNX73v5Y5
    ** In August, EGRX made an equity investment of $12.5 mln in
Enalare, with commitment to invest more in the company
    ** 1 of 3 brokerages covering the stock rates it "strong
buy", 2 "hold"; their median PT is $45.50
    ** Despite session's gain, stock down ~46% YTD 
 (Reporting by Pratik Jain)
 ((Pratik.Jain@thomsonreuters.com;))