Pulmatrix: Jumps after granting license for respiratory disease products

Pulmatrix

16/04/2020 11:56

** Shares of drug developer  PULM.O  rise 8.4% to $1.81
premarket 
    ** Co says it had granted a license to Sensory Cloud Inc for
two of its experimental drugs, PUR003 and PUR006; Sensory can
use the drugs to sell over-the-counter products to treat or
prevent upper and lower respiratory disease (https://bit.ly/2XBWUrk)
    ** Licensed products are expected to include an emergency
response product for reduction of pathogenic risk, including
COVID-19 - PULM
    ** License does not cover development of prescription drugs 
    ** PULM to receive royalties on net sales of products; will
also receive milestone payment of $1 mln after net sales of
products reach more than $20 mln 
    ** Stock surged about ~90% in early January after licensing
agreement with Johnson and Johnson  JNJ.N ; it has since risen
~3%, up to Wednesday's close 

 (Reporting by Manas Mishra in Bengaluru)
 ((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manasmishra24; within U.S. +1 646 223 8780,
outside U.S. +91 806749 2709))