- The stock price of Statera Biopharma Inc (NASDAQ: STAB) increased by over 84% pre-market today. This is why.
The stock price of Statera Biopharma Inc (NASDAQ: STAB) – a leading biopharmaceutical company creating next-generation immune therapies that focus on immune restoration and homeostasis – increased by over 84% pre-market today. Investors are responding positively to Statera Biopharma announcing that the company entered into a non-binding term sheet with respect to a strategic agreement with Immune Therapeutics, a drug development, and commercialization company, to sell Statera’s rights to naltrexone and met-enkephalin. This deal is contingent upon the negotiation of a definitive agreement and satisfaction of a number of closing conditions, including a contingency on Immune Therapeutics financing.
Under the anticipated terms of the agreement, Statera is going to receive an initial $2 million upfront payment and 5% of the issued and outstanding stock of Immune Therapeutics. And Statera will receive payments for achievement of revenue-based milestones, new indications and royalties, Crohn’s disease and COVID-19 indications and regulatory approvals, as well as any other payments from Immune Therapeutics in exchange for Statera’s rights to any product containing low-dose naltrexone as an active ingredient. The potential indication payments will include asthma, multiple sclerosis, HIV and chemotherapy. In aggregate, this deal has the ability to generate over $400 million in non-dilutive payments to Statera.
“The agreement with Immune will enable us to strengthen our financial position with a transaction that has the potential to produce significant non-dilutive cashflow to fund our other programs. For instance, Statera is beginning to chart a new course in the immunotherapy field by pursuing molecules that act on Toll-like Receptor pathways similar to Naltrexone. It also will help advance our new product candidates for treatment of a variety of immune-related diseases that have no cure.”
— Michael K. Handley, President and Chief Executive Officer of Statera Biopharma
“Statera’s naltrexone assets will be a great addition to our immune-modulation products and immunotherapy technologies. We believe that they can significantly enhance our ability to combat chronic, life‐threatening diseases and bring hope to millions of patients and their families.”
— Kevin Phelps, CEO, Immune Therapeutics
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