Yet this is trading at .80 It doesn't make any sense.
Nabriva Therapeutics (NASDAQ: NBRV) is a Dublin, Ireland based biopharmaceutical company engaged in the commercialization and development of innovative anti-infective agents to treat serious infections. Nabriva received U.S. Food and Drug Administration approval for XENLETA(TM) (lefamulin injection, lefamulin tablets), the first systemic pleuromutilin antibiotic for community-acquired bacterial pneumonia (CABP). Xenleta is the first IV and oral antibiotic monotherapy treatment option approved by the FDA for adults with CABP in nearly two decades. Nabriva Therapeutics is also developing CONTEPO (fosfomycin) for injection, a potential first-in-class epoxide antibiotic for complicated urinary tract infections (cUTIs), including acute pyelonephritis.
Nabriva Therapeutics plc recently announced an exclusive agreement to sell and distribute Cubist Pharmaceuticals' anti-bacterial medicine Sivextro (tedizolid phosphate) in the United States and across its certain territories. Cubist Pharmaceuticals is a wholly owned subsidiary of Merck. Sivextro is used to treat acute bacterial skin infections and was approved by the FDA. The financial terms of the agreement were not disclosed, but Nabriva will be exclusively responsible for marketing, sales and distribution of Sivextro in the United States until Dec 31, 2023 with renewable three-year extensions. Shares of Nabriva were up more than 50% following the announcement of the deal with Merck, but still trade 70% off of their 52-week high of $2.77.
Psychedelic Medicine is an area of the market that has caught the attention of billionaire investors, celebrities, and successful business executives as they endorse the psychedelic medicine market by joining strategic advisory boards or making sizable investments. Data Bridge Market Research expects the psychedelic drugs market to grow at a CAGR of 16.3% over the next eight years to reach $6.85 billion by 2027. Total annual spending on mental healthcare in America tops $195 billion. The Covid 19 pandemic has made matters worse as many individuals become depressed as they suffer from growing feelings of isolation. Currently, in the United States, magic mushrooms are still illegal in all 50 states. Denver, Colorado and Oakland, California have both signed legislation to decriminalize magic mushrooms opening the door for researchers to explore potential medical benefits. Additionally, voters in Oregon are expected to see a measure to legalize the use of psilocybin in therapeutic settings on the ballot this fall.
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