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Baird Reiterates Outperform on Curis (CRIS) as Aurigene Forgoes Milestone Payments; Increases Equity Position

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Go back to Baird Reiterates Outperform on Curis (CRIS) as Aurigene Forgoes Milestone Payments; Increases Equity Position

Pre-Open Stock Movers 09/07: (RTRX) (AAOI) (FRAN) (CMG) Higher; (SFM) (HDS) (CASY) Lower (more...)

September 7, 2016 9:30 AM EDT

Today's Pre-Open Stock Movers:

Retrophin, Inc. (Nasdaq: RTRX) 25.6% HIGHER; announced positive top-line results from the Phase 2 DUET study of sparsentan for the treatment of focal segmental glomerulosclerosis (FSGS), a rare kidney disorder without an approved pharmacologic treatment that often leads to end-stage renal disease. The study achieved statistical... More

Curis (CRIS) Partner Aurigene Discovery Receives 10.2M Shares at $2.40 in Lieu of Milestone Payment

September 7, 2016 9:17 AM EDT

Curis, Inc. (Nasdaq: CRIS) announced that its collaborator, Aurigene Discovery Technologies Ltd., will receive 10.2 million shares of Curiss common stock, priced at $2.40 per share, representing a 39% premium to the closing price on September 2, 2016, in lieu of receiving up to $24.5 million of milestone and other payments from Curis that may become due under the companies 2015 collaboration agreement.

In January 2015, Curis and Aurigene established an exclusive collaboration focused on the discovery, development and commercialization of small molecule drug candidates in the fields of immuno-oncology and selected precision oncology... More