Vyteris, Inc. Close to Signing $20 Million Deal for Product to Treat Female Infertility
Published: Aug 06, 2010
BioMedReports.Com, the news portal which covers Wall Street's biomedical sector, has issued a trade alert for Vyteris after reporting that finance industry sources have indicated that Phase 2 data for the company's innovative product to treat female infertility "is very strong" and that the company is close to signing a deal worth $20 million upfront which is also loaded with not only milestones, but also royalties.
VYTR had previously partnered with Ferring Pharmaceuticals to develop the product which would mimic the female body's natural rhythms of hormonal secretions. The product would make it possible to administer a peptide without needles, and was being designed to deliver multiple transdermal pulses automatically, around the clock with as little as two 12-hour patches per day. In addition to the less painful therapy, there were also potential benefits that would possibly reduce the likelihood of multiple births.
However, in December of 2009, Vyteris received notice from Ferring that they were terminating a License and Development Agreement, dated September 30, 2004. This rocked the stability of the company and shares saw a rocky ride from highs of $1.40 to lows of $.11.
The company has approximately 65 million outstanding shares, but only about 5 million are currently in the float. Since the rest are tightly held, the stock may be poised to climb higher on news.
The trade alert and full report is available now at BioMedReports.Com.
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