Nabriva: Rises on restructured China license deal for antibiotic

Nabriva Therapeutics

07/12/2020 14:27

** Antibiotic maker's  NBRV.O  shares up 4.8% at $3.88
premarket, set to snap a three-day losing streak after hitting a
record low last week 
    ** Co to receive $1 mln in Q4 as part of a restructured deal
with Sinovant Sciences relating to co's antibiotic Xenleta in
the greater China region  urn:newsml:reuters.com:*:nGNX1lXXSn
    ** Payment in Q4 is part of a $5 mln milestone payout that
was previously expected to be paid to NBRV after the drug
received approval in China
    ** Under the revised deal, Sinovant to also provide
regulatory support and collaborate on manufacturing, in addition
to developing and commercializing the drug as part of the
original agreement in 2018
    ** The drug has been approved by the U.S. FDA to treat 
community-acquired bacterial pneumonia and Sinovant is
conducting a trial for the drug in China 
    ** Stock down ~72% this year, as of last close

 (Reporting by Manas Mishra in Bengaluru)
 ((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manasmishra24))