La Jolla: Surges on Europe deal for blood pressure, abdominal infection treatments

PAION AG

12/01/2021 13:25

** Shares of drug developer  LJPC.O  surge 66% to $6.5 in
premarket trade; set for their best day in more than 1.5 years
    ** Stock among top pct gainers across U.S. exchanges and is
set to touch its highest level in eight months
    ** Co enters into an exclusive licensing agreement with
German company PAION AG  PA8G.DE  for LJPC's blood pressure drug
Giapreza, and abdominal infections treatment Xerava, in Europe
 urn:newsml:reuters.com:*:nBwW7MPta
    ** Under the terms, La Jolla will receive an upfront cash
payment of $22.5 million and potential commercial milestone
payments of up to $109.5 million
    ** Up to Monday's close, stock is down ~44% in the last 12
months 

 (Reporting by Dania Nadeem in Bengaluru)
 ((Dania.Nadeem@thomsonreuters.com;))