SGX Surges After Novartis Deal

SGX will be responsible for completing the preclinical development of the leading drug candidate. Additionally, it will be required to submit an investigational new drug application to the Food and Drug Administration. SGX will also have to complete an initial phase I clinical study. After that, Novartis will conduct the added clinical development and commercialization of the compound.

Novartis trades by way of an American depositary share in the U.S. Lately, the ADRs were up 57 cents, or 1%, to $55.83.

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