Cyprium Received $4.5M Payment On Closing And Remains Eligible To Receive Royalties And Up To $129M In Aggregate Development And Sales Milestones; Retains 100% Ownership Over Any FDA Priority Review Voucher That May Be Issued At NDA Approval For CUTX-101
Portfolio Pulse from Benzinga Newsdesk
Cyprium Therapeutics has received a $4.5 million payment upon closing a deal related to its drug CUTX-101. The company is also eligible for royalties and up to $129 million in development and sales milestones. Additionally, Cyprium retains full ownership of any FDA Priority Review Voucher that may be issued upon NDA approval for CUTX-101.
December 06, 2023 | 1:42 pm
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Fortress Biotech, Inc. (FBIO), which is associated with Cyprium Therapeutics, may see a positive short-term impact due to the $4.5 million payment received by Cyprium and the potential for future royalties and milestone payments related to CUTX-101.
The financial inflow from the upfront payment and the potential for significant future payments based on development and sales milestones for CUTX-101 could provide a positive outlook for FBIO's financials. The retention of rights to a potential FDA Priority Review Voucher also adds value, as these vouchers can be highly lucrative if sold or used strategically. The news directly involves FBIO's associated company, Cyprium, and thus is likely to have a favorable impact on FBIO's stock price in the short term.
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