** Shares of medical device maker Tivic Health Systems TIVC.O more than double to 49 cents; set to record the largest single-day percentage gain
** TIVC says it has acquired exclusive worldwide rights from Statera Biopharma STAB.PK to a late-stage immunotherapy drug called entolimod, which is used for the treatment of acute radiation syndrome $(ARS.UK)$, a condition caused by exposure to high doses of ionizing radiation
** The deal includes an initial payment of $1.2 million in equity and $300,000 in cash to Statera
** Drug has the potential to be approved by the U.S. FDA within two years - TIVC
** The FDA has granted "fast track" and "orphan drug" designation to entolimod for the treatment of ARS - TIVC
** The global ARS market is estimated to be valued at $5.2 billion in 2024 with a compound annual growth rate of 5% from 2024 to 2031 - TIVC
** TIVC fell 80.7% in 2024
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.