What's Happening With Fresh Tracks Therapeutics (FRTX) Shares
Portfolio Pulse from Henry Khederian
Fresh Tracks Therapeutics Inc (FRTX) shares are trading lower by 12.8% to $0.83. This follows the company's announcement of 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 in lieu of all remaining amounts potentially payable by Botanix to the company.
July 24, 2023 | 2:32 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Fresh Tracks Therapeutics' stock is trading lower following the announcement of an $8.25 million buyout of its right to receive future payments from Botanix.
The drop in FRTX's stock price is likely due to investors' reaction to the company's announcement of the buyout. This could be seen as a negative development as it means the company will no longer receive future payments from Botanix, which could have provided a steady stream of income.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100