Acura Pharmaceuticals (ACUR) Stock Spikes on Development Deal with Bayer Healthcare
Acura Pharmaceuticals (ACUR) shares are up over 30% after the company entered into a licensing and development deal with Bayer Healthcare (BAYRY) for its IMPEDE technology.
NEW YORK (TheStreet) -- Acura Pharmaceuticals (ACUR) shares are up 37.35% to $1.14 on heavy volume in morning trading on Tuesday after the biotech company entered into a license and development agreement with Bayer Healthcare (BAYRY) - Get Bayer AG Report for its IMPEDE technology.
The two companies will jointly develop Acura's IMPEDE technology for use in an undisclosed methamphetamine resistant pseudoephedrine containing product in the U.S. market.
The agreement gives Bayer the right to negotiate for a worldwide license to the technology for additional products.
IMPEDE is an advanced polymer matrix that is used to limit or disrupt the extraction of PSE from tablets for conversion into the illicit drug methamphetamine.
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