Why Actinium Pharmaceuticals Stock Is Surging

Actinium Pharmaceuticals Inc ATNM shares are trading higher Tuesday morning after the company announced it entered into a license and supply agreement with Immedica Pharma for Iomab-B. 

Actinium will receive an upfront payment of $35 million and will be eligible for an additional $417 million in regulatory and commercial milestones as well as royalties in the mid-20% range on net sales.

Immedica will get commercialization rights in Europe and MENA countries, while Actinium will retain rights in the United States and the rest of the world.

Iomab-B is an antibody radiation conjugate comprised of apamistamab, a CD45 targeting antibody, and the radioisotope iodine-131 that is being developed for targeted conditioning to facilitate bone marrow transplant and other cell and gene therapies.

Topline data from a pivotal Phase 3 trial of Iomab-B is expected in the third quarter. 

Actinium is a clinical-stage biopharmaceutical company developing targeted radiotherapies to deliver cancer-killing radiation with cellular level precision.

See Also: Morning Brief: Top Stories Dominating Financial Media on Tuesday, April 12

ATNM 52-Week Range: $4.41 - $10.30

According to data from Benzinga Pro, the stock was up 39.5% at $7.37 at press time.

Photo: fernandozhiminaicela from Pixabay.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsContractsMoversTrading Ideaswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...