Dogwood Therapeutics Stock Soars Pre-Market On Securing License For Cancer-Related Pain Management Drug
Synopsis
In return for the license, Sepin Pharma and its designated affiliates will get 7.31% of Dogwood’s common stock, on a fully diluted basis.
Dogwood Therapeutics, Inc. (DWTX) shares surged 50% in the pre-market session on Monday after the company announced that it has secured a license to develop Serpin Pharma’s intravenous formulation of SP16 to manage cancer-related pain (CRP).
The royalty-free, global license will enable the company to develop SP16 for a broad range of chemotherapy-induced neuropathy symptoms as well.
In return, Sepin Pharma and its designated affiliates will get 7.31% of the company’s common stock, on a fully diluted basis. This includes 382,034 shares of DWTX common stock and 179.1878 shares of a new series of non-voting convertible preferred stock, it said.
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