Astria Therapeutics (ATXS) said Wednesday it has licensed the development and commercialization rights for its hereditary angioedema drug candidate, navenibart, in Japan to Kaken Pharmaceutical.
The company said it will receive an upfront payment of $16 million, with the potential for an additional $16 million in milestone payments.
Astria said it now expects its cash, cash equivalents and short-term investments will be able to fund its operating plan into 2028.
Shares of Astria were up about 1.7% in recent trading.
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