Why Fresh Tracks Therapeutics (FRTX) Shares Are Skyrocketing
Portfolio Pulse from Henry Khederian
Fresh Tracks Therapeutics Inc (FRTX) shares are up by 28.7% after the company announced an $8.25 million buyout of its right to receive future sofpironium bromide payments from Botanix. Under the terms of the APA Amendment, Botanix will pay $8.25 million in cash, $6.60 million of which is payable to the company and the remaining $1.65 million is payable to the company's former licensor.
July 21, 2023 | 2:14 pm
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Fresh Tracks Therapeutics' stock price has increased by 28.7% following the announcement of an $8.25 million buyout deal with Botanix.
The buyout deal with Botanix has led to a surge in Fresh Tracks Therapeutics' stock price. The deal involves Botanix paying $8.25 million in cash to Fresh Tracks Therapeutics, which has positively impacted investor sentiment and driven up the stock price.
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