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(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.

Redx Pharma shares soared 44% to 28.70 pence each in London on Wednesday morning.

The Macclesfield, England-based clinical-stage biotechnology company said it will receive USD10 million upfront, with a potential for up to USD870 million in development, regulatory and sales milestone payments in addition to royalties on future net sales.

Jazz Pharmaceuticals and Redx will collaborate to advance candidates through IND-enabling studies; Jazz Pharmaceuticals will be responsible for all clinical development, regulatory, manufacturing and commercialisation activities.

Lots of 50000 buys getting printed from earlier in the morning over 30p.

Moves very quick.

Mms short of shares

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Redx Pharma PLC, up 35% at 27.00 pence, 12-month range 19.00p-60.00p. The clinical-stage biotechnology company signs an agreement to sell Kirsten rat sarcoma virus inhibitor program to Jazz Pharmaceuticals PLC. Redx says it will receive USD10 million upfront, with a potential for up to USD870 million in development, regulatory and sales milestone payments in addition to royalties on future net sales. Jazz and Redx will collaborate to advance candidates through IND-enabling studies; Jazz will be responsible for all clinical development, regulatory, manufacturing and commercialization activities.

Yearly high 57 last February

Boiler room deramping crew sitting in a shed deramping this stock. Missed out on the rise and now trying to get back in.

MMS not showing big trades. This will all be printed after 4.30

Proposed Placing and Subscription to raise gross proceeds of a minimum £5.8 million (approximately US$7.4 million) (before expenses) at the Issue Price.

The net proceeds of the Fundraise will be used for drilling an exploration well (Itumbula West-A) on the Itumbula prospect, in addition to general working capital purposes. No more placing required

MMs wiped the floor with the weak holders. Many derampers have bought back in. Many mates rates deals done. Orders filled by MMS.

NT to buy

MMS really going hard on stop losses

Feel sorry for peeps who have sold out

All different aliases creating false rumours. All working for same BOD. They have done their job and the cretins have now loaded up.

No placing. Watch the video. False Rumours.

No placing. Watch the video. False Rumours.

MMs have really taken out the weak. Derampers have also disappeared after getting their low buy in price. Feel sorry for peeps who have sold out. Many peeps bought in at over 3p for the past 3 few days.

Good luck to peeps to have sold out. MMs really taking the P here. Many falling for their shenanigans. GLA.

MMS having a field day. Filling orders for mates. Mill buys from earlier getting printed

MMS desperately going for stop losses. Many peeps have been spooked and taken to the cleaners

No update required. This needs to sink in first.

The primary helium explorer updated shareholders on the completion of the Itumbula West-1 well, which saw helium flow to the surface.

It said the Itumbula West-1 well, in Tanzania, has successfully completed all wireline logging and drill stem testing operations. Further, the well successfully flowed a high concentration of helium to the surface from basement, at a measured concentration up to 4.7% helium.