Imara Inc [IMRA] - Last Close: $1.17
Imara is surging on news of a major asset sales agreement.
This morning, the clinical-stage biotech company announced it had agreed to sell some of its intellectual property to Cardurion Pharmaceuticals for $94.75 million.
Under the terms of the sales agreement, Imara will sell Tovinontrine and other assets of its PDE9 program to Cardurion for $34.75 million, plus another $60 million in potential milestone payments.
According to a company statement, Imara will continue to evaluate strategic alternatives in the wake of the asset sale.
News of the cash injection is lifting IMRA to a 23.9% premarket gain, and it's one of today's most active movers.
My Take: Investors are buying on news of the sale, but it's unclear what this deal means for the stock's long-term outlook. This might be a short-lived pop, so don't get caught holding the bag.
Biophytis SA [BPTS] - Last Close: $0.94
Biophytis is one of today's top movers after releasing promising clinical data.
The tiny biotech firm announced promising data from its Phase 2-3 COVA study evaluating Sarconeos (BIO101) in treating COVID-19-related respiratory failure.
In the study, Sarconeos reduced the risk of respiratory failure by 39% and showed significant improvements over placebo.
The drug reduced the proportion of patients with respiratory failure and early death over a 28-day max treatment period.
Sarconeos also presented a good safety profile, with a similar proportion of adverse events compared to placebo.
BPTS is one of today's top movers with a 28.7% gain on active volume.
My Take: This drug doesn't sound particularly promising, but the company's small $15.4 million market cap means there's significant upside if Biophytis can pull it off. It's a highly speculative trade, though, so be cautious.
