Awakn Life Sciences Becomes Pure R&D Biotech After Sale Of Norway Clinics
Portfolio Pulse from Lara Goldstein
Awakn Life Sciences Corp. (OTCQB:AWKNF) has sold its Norwegian clinics businesses as part of its business restructuring process. The company will receive a fee for the acquisition and a share of the clinics’ revenue on an ongoing basis. This marks Awakn’s exit from healthcare services and allows the company to focus on its biotech research and development programs around addiction therapeutics. Its lead program AWKN-P001 is expected to enter the Phase 3 clinical stage in the UK within this year’s fourth quarter.
August 04, 2023 | 9:51 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Awakn Life Sciences has sold its Norwegian clinics, marking its exit from healthcare services. The company will now focus on its biotech R&D programs around addiction therapeutics.
The sale of the Norwegian clinics allows Awakn to focus on its core business of biotech research and development. This could potentially lead to new breakthroughs and increased revenues in the future. However, the short-term impact on the stock price is uncertain as it depends on the success of the company's R&D programs.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100