Arena Pharma nabs upfront $800 million as it out-licenses ralinepag
US company Arena Pharmaceuticals’ (Nasdaq: ARNA) shares closed up 22.5% at $39.84 on Thursday, having leapt as much as 30%, after it revealed lucrative new licensing deal for a pulmonary arterial hypertension (PAH) drug candidate.
Arena entered into a global license agreement for its Phase III investigational drug candidate, ralinepag, a next-generation, oral, selective and potent prostacyclin receptor agonist in development for the treatment PAH, with United Therapeutics (Nasdaq: UTHR), whose stock also gained 5.6% to $117.20.
Financial terms of the deal
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