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Pin to quick picksRedx Pharma Share News (REDX)

Share Price Information for Redx Pharma (REDX)

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Share Price: 18.50
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Ask: 19.00
Change: 0.00 (0.00%)
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Redx Pharma Shares Double After Jazz Pharmaceutical Deal

Wed, 10th Jul 2019 09:41

(Alliance News) - Redx Pharma PLC said Wednesday it has signed a definitive agreement with Nasdaq-listed Jazz Pharmaceuticals PLC to sell its pan-RAF inhibitor programme.

Shares in the cancer and fibrosis drug discovery company almost doubled in morning trade in London, increasing to 12.25 pence each after closing Tuesday at 6.25p. Earlier, the stock set a new 52-week high of 18.00p.

As part of the agreement, Redx will receive an upfront payment of USD3.5 million in cash but is eligible to receive up to USD203 million in development, regulatory and commercial milestone payments.

The next milestone is the initiation of investigational new drug studies, followed by an IND submission to the US Food & Drug Administration. Redx also is eligible for incremental tiered royalties in "mid-single digit" percentage, based on any future net sales.

"We are pleased to deliver on our previously announced intention to realise value from our pan-RAF research programme through entering into this strategic transaction with Jazz. Jazz has a growing hematology-oncology portfolio and demonstrated success in developing and commercialising treatments for patients worldwide," Redx Chief Executive Lisa Anson said.

She continued: "This transaction validates Redx's excellence in drug design and represents the company's second oncology deal in the last two years, following the sale of our BTK inhibitor programme to Loxo Oncology in 2017. We look forward to working with Jazz to advance the pan-RAF inhibitor programme."

Redx said the upfront payment will be used for working capital, extending its cash runway through to 2020.

The company said it will continue to progress its patient recruitment for its ongoing phase 1/2a trial of RXC004, an oral porcupine inhibitor aimed at treating cancer driven by the Wnt pathway.

"The board continues to be in active discussions with shareholders and third-party healthcare specialist investors regarding longer-term funding of the group. The company will provide further updates in due course," Redx added.

More News
14 Feb 2024 09:34

IN BRIEF: Redx Pharma clarifies not currently pursuing US listing

Redx Pharma PLC - Macclesfield, England-based clinical-stage biotechnology company - Responds to a Times article published on Tuesday saying RedX is looking to list its shares in New York. Redx says it "wishes to clarify that it is not currently in any process relating to a listing in the US, nor any other jurisdiction".

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7 Feb 2024 11:08

Redx Pharma shares skyrocket on deal to sell inhibitor program

(Alliance News) - Redx Pharma PLC on Wednesday said it has struck a deal to sell Kirsten rat sarcoma virus inhibitor program to Dublin-based Jazz Pharmaceuticals PLC.

Read more
7 Feb 2024 09:29

AIM WINNERS & LOSERS: Verditek falls on cash shell plans

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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15 Dec 2023 21:09

EARNINGS AND TRADING: Redx full year revenue tumbles; loss widens

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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18 Oct 2023 12:30

Redx Pharma looks to progress portfolio after raising GBP14.1 million

(Alliance News) - Redx Pharma PLC on Wednesday said that it has conditionally raised around GBP14.1 million by way of a subscription for 54.1 million shares at 26 pence each.

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21 Aug 2023 10:29

AIM WINNERS & LOSERS: Fulcrum Utility to leave AIM as loss widens

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

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21 Aug 2023 09:33

Redx Pharma says RXC007 receives orphan drug designation from US FDA

(Alliance News) - Redx Pharma PLC on Monday said its RXC007 drug has received orphan drug designation from the US Food & Drug Administration for the treatment of idiopathic pulmonary fibrosis, a condition causing breathing difficulty due to lung scarring.

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21 Aug 2023 07:43

LONDON BRIEFING: Crest Nicholson lowers annual profit forecast

(Alliance News) - Stocks in London are called flat on Monday, with little in the way of economic data or company updates to reignite risk appetite.

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10 Jul 2023 11:22

Redx Pharma extends term of outstanding notes with two lenders to 2024

(Alliance News) - Redx Pharma PLC on Monday said it extended the term of its outstanding convertible loan notes issued to two lenders RM Special Holdings 3 LLC, otherwise known as Redmile, and Sofinnova Crossover I SLP by a year.

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17 May 2023 14:44

Redx Pharma half-year loss doubles amid costs of failed Jounce merger

(Alliance News) - Redx Pharma PLC on Wednesday said its half-year loss nearly doubled, due to lower revenue and higher expenses, but it noted progress in therapeutics trials and said it "retains the foundations for longer term success".

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11 May 2023 18:17

IN BRIEF: Redx reports positive preclinical data for fibrosis drug

Redx Pharma PLC - Macclesfield, England-based clinical-stage biotechnology company - Announces preclinical data for its lead fibrosis asset, RXC007, and the Discodin Domain Receptor 1/2 discovery programme, as presented yesterday at the Resistant Tumour Microenvironment, Keystone Symposia, in Vancouver. Notes the data presented were from preclinical models of pancreatic ductal adenocarcinoma and triple negative breast cancer in combination with chemotherapy and immunotherapy, as current standard of care. Says RXC007, in combination with gemcitabine/Abraxane in metastatic and high-extra cellular matrix patient-derived PDAC models, was shown to increase survival compared to single agent standard of care alone. The combination of RXC007 with standard of care provided a significant increase in median survival days from date of treatment in a dose dependent manner. These new data on RXC007 complement those also presented at the meeting by collaboration partner the Garvan Institute of Medical Research on REDX10616, a close analogue of RXC007. Taken together, these data provide a strong rationale for the potential of ROCK2 inhibition in combination with standard of care as a potential treatment for cancer-associated fibrosis. Redx plans to further investigate this treatment setting with the company's next-generation ROCK2 inhibitor, RXC007. Further, at the Keystone Symposia, data were also presented from Redx's DDR1/2 programme in combination with anti-PD-1 in TNBC models. Using a tool DDR1/2 inhibitor, in combination with anti-PD-1, in the TNBC E0771 model resulted in a statistically significant increase in survival when compared to the control group, an effect not observed with either single agent alone.

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10 May 2023 15:45

UK earnings, trading statements calendar - next 7 days

Thursday 11 May 
3i Group PLCFull Year Results
Airtel Africa PLCFull Year Results
Eurocell PLCTrading Statement
Donegal Investment Group PLCHalf Year Results
Grainger PLCHalf Year Results
Hurricane Energy PLCFull Year Results
ICG Enterprise Trust PLCFull Year Results
IQE PLCFull Year Results
ITV PLCTrading Statement
John Wood Group PLCTrading Statement
Morgan Advanced Materials PLCTrading Statement
Rolls-Royce Holdings PLCTrading Statement
S4 Capital PLCQ1 Results
TBC Bank Group PLCQ1 Results
Friday 12 May 
Allianz Technology Trust PLCQ1 Results
Balfour Beatty PLCTrading Statement
Beazley PLCQ1 Results
CMO Group PLCFull Year Results
Monday 15 May 
CentralNic Group PLCFull Year Results
Cerillion PLCHalf Year Results
Currys PLCTrading Statement
Diploma PLCHalf Year Results
Equals Group PLCTrading Statement
Finsbury Growth & Income Trust PLCHalf Year Results
Instem PLCFull Year Results
JPMorgan Multi-Asset Growth & Income PLCFull Year Results
Westminster Group PLCFull Year Results
Tuesday 16 May 
Angling Direct PLCFull Year Results
boohoo Group PLCFull Year Results
Britvic PLCHalf Year Results
Burford Capital LtdFull Year Results
Cornerstone FS PLCFull Year Results
DCC PLCFull Year Results
Essentra PLCTrading Statement
Greggs PLCTrading Statement
Hyve Group PLCHalf Year Results
Imperial Brands PLCHalf Year Results
Land Securities Group PLCFull Year Results
Likewise Group PLCFull Year Results
Marston's PLCHalf Year Results
Renew Holdings PLCHalf Year Results
Smartspace Software PLCFull Year Results
Vodafone Group PLCFull Year Results
Zytronic PLCHalf Year Results
Wednesday 17 May 
Auction Technology Group PLCHalf Year Results
Bank of Georgia Group PLCQ1 Results
British Land Co PLCFull Year Results
Experian PLCFull Year Results
JD Sports Fashion PLCFull Year Results
Keller Group PLCTrading Statement
Ninety One PLC and LtdFull Year Results
Redx Pharma PLCHalf Year Results
Sage Group PLCHalf Year Results
Scottish Mortgage Investment Trust PLCFull Year Results
TP ICAP Group PLCQ1 Results
Watches of Switzerland Group PLCTrading Statement
  
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3 Apr 2023 18:05

TRADING UPDATES: Redx confirms Jounce deal lapses, Tirupati seals deal

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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27 Mar 2023 14:34

Redx Pharma's bid to buy Jounce snubbed by Concentra's higher offer

(Alliance News) - Redx Pharma PLC on Monday noted that Jounce Therapeutics Inc, which it was close to buying, was bought by Concentra Biosciences LLC for a higher price.

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27 Mar 2023 14:16

Jounce agrees Concentra Bioscences takeover, ditches Redx Pharma

(Sharecast News) - Jounce Therapeutics said on Monday that it was ditching a planned merger with AIM-listed Redx Pharma, opting instead to be bought by Concentra Bioscences.

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