Pulmatrix rockets on news of pulmonary diseases deal with J&J

3 January 2020

Shares of US clinical-stage biopharma firm Pulmatrix (Nasdaq: PULM) shot up a massive 88.37% to $1.62 by close of trading Thursday, after it revealed it has entered into a licensing and development agreement with the Lung Cancer Initiative at US healthcare giant Johnson & Johnson (NYSE: JNJ).

Through the agreement, the Lung Cancer Initiative gains an option to access a portfolio of narrow spectrum kinase inhibitors intended for development in lung cancer interception.

This is the second collaboration between the companies. In 2017, Pulmatrix entered into a worldwide license deal with RespiVert, a division of J&J’s Janssen, whereby Pulmatrix gained access to a portfolio of novel drug candidates in a class called kinase inhibitors that the company plans to develop.

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