Statera BioPharma Inc (STAB)

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Statera Biopharma Shares Rise After Rights Deal With Immune Therapeutics
5:55 pm ET April 27, 2022 (Dow Jones) Print

By Stephen Nakrosis


Shares of Statera Biopharma Inc. were trading higher in Wednesday's after-hours market, following news the company entered a strategic agreement with Immune Therapeutics Inc. to sell rights to naltrexone and met-enkephalin.

At 5:46 p.m. ET, Statera shares were trading 52.3% higher at 31 cents each. Volume in the after-hours session topped 8.7 million shares.

The stock finished the day's regular session with a 1.23% loss, closing at just under 21 cents a share. The stock hit a 52-week low of fractionally above 20 cents a share earlier in the day.

Under the expected terms of the deal, Statera will receive an initial $2 million upfront payment and 5% of the issued and outstanding stock of Immune Therapeutics. Statera will also receive payments for, among other things, achievement of revenue-based milestones, new indications and royalties, in exchange for its rights to any product containing low-dose naltrexone as an active ingredient, the companies said.

In aggregate, the deal could generate over $400 million in non-dilutive payments to Statera, the company said.


Write to Stephen Nakrosis at [e-mail]


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