Tharimmune, a clinical-stage biotechnology company, saw its stock surge on Tuesday following the announcement of an exclusive worldwide licensing agreement with Avior.
At the time of this publication, Tharimmune Inc stock (THAR) has witnessed a surge.
Tharimmune Inc
Current Price: $0.23
Change : +0.07
Change (%): (43.25%)
Volume: 37.6M
Source: Tomorrow Events Market Data
The agreement encompasses AV104, currently under development as a potential treatment for moderate-to-severe cholestatic pruritis in patients diagnosed with primary biliary cholangitis. The company has revealed that this asset will now bear the name TH104.
According to a report by InvestorPlace, Tharimmune is set to take charge of the development, marketing, and commercialization of TH104 as part of the licensing agreement. The company has outlined plans to initiate a phase 1 pharmacokinetic trial followed by a phase 2 proof-of-concept efficacy study, contingent on FDA approval. These trials are anticipated to span a period of 12 months.
In response to today’s announcement, heavy trading of THAR stock has been observed, with over 37 million shares of the company changing hands as of the time of this report. This marks a substantial uptick from its daily average trading volume, which typically hovers around 1 million shares.
In tandem with the licensing agreement, Tharimmune has also disclosed its intention to undertake a public stock offering for its shares. The company has not specified the number of shares slated for inclusion in the offering or their anticipated pricing.
Investors and industry stakeholders alike are keeping a close watch on Tharimmune as it charts a strategic course in the development and commercialization of TH104. The agreement with Avior represents a significant milestone in the company’s pursuit of innovative solutions for patients grappling with primary biliary cholangitis-associated pruritis. Tharimmune’s stock surge underscores the market’s keen interest in the potential therapeutic impact of TH104.
The entry of Tharimmune into the licensing agreement with Avior, followed by the announcement of a stock offering, demonstrates its dedication to driving medical innovation. This move solidifies its stature as a leading force in the biotechnology sector. As developments unfold, stakeholders eagerly anticipate further updates on the progress of TH104 and its potential to address an unmet medical need in the realm of cholestatic pruritis.
