Fusion Pharmaceuticals (FUSN) Stock Price: Why It Increased Over 4% Today

By Amit Chowdhry ● Jun 10, 2022
  • The stock price of Fusion Pharmaceuticals Inc. (Nasdaq: FUSN) increased by over 4% during intraday trading today. This is why.

The stock price of Fusion Pharmaceuticals Inc. (Nasdaq: FUSN) increased by over 4% during intraday trading today. Investors are responding positively to Fusion Pharmaceuticals and Niowave announcing that the companies have entered into a collaboration and supply agreement for the development, production, and supply of actinium-225. 

Under the agreement, Fusion is going to invest up to $5 million in Niowave to further develop their technology to increase the current production capacity of actinium-225, and in return, Fusion will have guaranteed access to a pre-determined percentage of Niowave’s capacity of the resulting actinium-225, as well as preferred access to any excess supply produced. And as part of the agreement, Fusion will also have an option to invest in future production of actinium-225 to scale with Fusion’s needs.

Fusion is developing actinium-based TATs leveraging the potency and precision offered by alpha particles. And actinium-225 decay gives off four alpha emissions in relatively rapid succession, maximizing the damage to the DNA of tumor cells, with a 10-day half life that allows for central manufacturing and distribution of products to clinical sites in a ready-to-use form. Fusion currently has existing actinium supply arrangements with TRIUMF and the U.S. Department of Energy (DOE).

KEY QUOTES:

“As excitement for the tumor-killing potential of alpha-emitting radio pharmaceuticals increases, we intend to stay at the forefront of actinium development and supply to support our growing pipeline of targeted alpha therapies. We continue to prioritize manufacturing and access to actinium as a critical component of Fusion’s platform, and our partnership with Niowave further strengthens and diversifies our supply chain as we advance multiple actinium-based radio pharmaceuticals in the clinic.”

— Fusion Chief Executive Officer John Valliant, Ph.D.

“The Niowave team has worked hard to scale up our actinium-225 production to the millicurie level and this has allowed us to start working with oncology community partners. We have been watching Fusion’s progress in the development of their pipeline of targeted alpha therapies and we are very excited to partner with them on this journey.”

— Niowave Chief Executive Officer/Senior Scientist Terry Grimm, Ph.D.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.