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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Alexion Pharmaceuticals Inc | NASDAQ:ALXN | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 182.50 | 183.00 | 185.00 | 0 | 01:00:00 |
From May 2019 to May 2024
By Michael Dabaie
Stealth BioTherapeutics Corp. (MITO) ADRs were up 14% at $7.30 around midday.
Earlier Thursday, Stealth and Alexion Pharmaceuticals Inc. (ALXN) agreed on an option to co-develop and commercialize elamipretide for mitochondrial diseases.
Alexion will make initial payments to Stealth totaling $30 million, including an option fee, an equity investment and development funding.
Under the terms of the agreement, Alexion can exercise the option following results from the Phase 3 study currently under way. If Alexion chooses to exercise this option, the companies will co-develop subcutaneous elamipretide in the U.S. Upon commercialization, the agreement would provide for 50-50 co-promotion between the two companies in the U.S., and Alexion would receive exclusive rights to develop and commercialize subcutaneous elamipretide outside the U.S.
Alexion shares were up 2% at $96.95.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
October 10, 2019 12:07 ET (16:07 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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