Amphastar Pharmaceuticals (AMPH) stock is surging 6.54% in pre-market trading on Tuesday, driven by two significant announcements that have bolstered investor confidence in the biopharmaceutical company.
The primary catalyst for the stock's jump is Amphastar's newly inked exclusive licensing agreement with Nanjing Anji Biotechnology Co., Ltd. The deal grants Amphastar the rights to develop and commercialize three peptide-based therapies in the United States and Canada. These innovative treatments target multiple poorly treated cancers, aim to improve docetaxel's selectivity and bioavailability, and address wet age-related macular degeneration. Under the agreement, Amphastar paid $6 million upfront and could pay Anji up to $453 million in total, including development and sales milestone payments, plus royalties of 5% on net sales.
Adding to the positive momentum, Needham has upgraded Amphastar Pharmaceuticals from Hold to Buy, setting a new price target of $36. This vote of confidence from a respected financial institution has further fueled investor enthusiasm. The combination of the licensing deal's potential for long-term growth and the analyst upgrade has created a bullish sentiment around Amphastar, driving the significant pre-market price increase.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。