OPKO Health, Nicoya Therapeutics Ink Rayaldee Pact For Hyperparathyroidism In Greater China - OPKO Health (NASDAQ:OPK)

OPKO Health Inc's OPK subsidiary EirGen Pharma has agreed to develop and commercialize Rayaldee to treat secondary hyperparathyroidism in patients with stage 3/4 chronic kidney disease with Nicoya Therapeutics in Greater China.
Nicoya will make an upfront payment to OPKO of $5 million and an additional $5 million payment during the first 12 months of the agreement or upon Nicoya achieving a certain predetermined development milestone.
In addition, OPKO will be eligible to receive up to $115 million upon the achievement of certain milestones.
Nicoya will also pay OPKO tiered, double-digit royalties on product sales.
Rayaldee is an extended-release formulation of calcifediol, a prohormone of calcitriol, the active form of vitamin D3.
Price Action: OPK shares are up 0.81% at $3.73 during the market session on the last check Monday.