Tharimmune (NASDAQ:THAR) stock is taking off on Tuesday after the clinical-stage biotechnology company announced an exclusive worldwide licensing agreement with Avior.
This licensing agreement covers AV104, which is in development as a treatment for moderate-to-severe cholestatic pruritis in patients with primary biliary cholangitis. The company also notes that this asset is being renamed TH104.
With this agreement, Tharimmune will handle the development, marketing and commercialization of TH104. It expects to conduct a phase 1 pharmacokinetic trial and a phase 2 proof-of-concept efficacy study covering the treatment. It will do so after getting approval from the FDA and expects the trials to last for 12 months.
Randy Milby, CEO of Tharimmune, said this about the news.
“This license agreement allows the company to bring a clinical-stage asset into the organization as we shift into a business model focused on clinical development signifying our next step as we grow into a patient-focused biotechnology organization.”
THAR Stock Movement Today
Today’s news brings with it heavy trading of THAR stock. That has more than 16.8 million shares of the company’s stock changing hands as of this writing. For the record, its daily average trading volume is closer to 1 million shares.
In addition to this licensing agreement, Tharimmune also announced a proposed public stock offering for its shares. The company doesn’t say how many shares will be included in the offering or what they will be priced at.
THAR stock is up 112.9% as of Tuesday morning.
Investors looking for even more of the most recent stock market stories will want to keep reading!
We have all of the hottest stock market news that traders need to know about on Tuesday! Among that is what has shares of Senti Biosciences (NASDAQ:SNTI) stock up, the biggest pre-market stock movers this morning and more. All of that news is available at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
