Eyegate Pharmaceuticals Inc EYEG shares are trading higher by 116% at $6.74 Tuesday morning after the company announced it entered a non-binding letter of intent to acquire Bayon Therapeutics for roughly $7.1 million.
Eyegate Pharmaceuticals is a clinical-stage specialty pharmaceutical company. It focuses on developing and commercializing products for treating diseases and disorders of the eye. The company's lead product EGP-437 incorporates a reformulated topically active corticosteroid, Dexamethasone Phosphate, that is delivered into the ocular tissues through a proprietary drug delivery system, the EyeGate II Delivery System.
Eyegate Pharmaceuticals has a 52-week high of $8.18 and a 52-week low of $3.10.
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