Kitov inks commercialization deal for Consensi in China; shares up 7% premarket [Seeking Alpha]
KITOV PHARAMCEUTICALS HOLDINGS LTD AMERICAN DEPOS (KTOV)
US:NASDAQ Investor Relations:
kitovpharma.com
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Source: Seeking Alpha
Kitov inks commercialization deal for Consensi in China; shares up 7% premarketThinly traded nano cap Kitov Pharma (NASDAQ:KTOV) is up7% premarket on average volume in response to itsagreement with Hebei Changshan Biochemical Pharmaceutical Co., Ltd. granting the latter exclusive rights to import, manufacture and distribute lead drug Consensi (formerly KIT-302) in China, Taiwan, Hong Kong and Macau.Under the terms of the deal, Kitov will receive $3.5M upon U.S. approval of Consensi (FDA action date May 31) and the achievement of Chinese regulatory milestones (should be approval), up to $6M in commercial milestones and 12% royalties on net sales.Changshan Pharma will be responsible for financing and regulatory approval from the CFDA.See all stocks on the move »Now read:Premarket analyst action - healthcare »
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