Cytori Therapeutics Inc. stock surged 7.9% to $1.78 per share in morning trade Thursday after the company said it had agreed to purchase assets from privately-held Azaya Therapeutics. Under the terms of the agreement, Cytori will issue $2 million of its common stock and will pay off about $2 million of Azaya’s trade payables, with future milestone, royalty and other payments possible. The purchase includes a portfolio of investigational oncology therapies and related intellectual property, and at its close Cytori will enter a five-year lease for San Antonio, Tx-based Azaya’s nanoparticle manufacturing and development facility. The purchase will give Cytori’s late-stage cell therapy technology access to a clinically proven pharmaceutical delivery system, Cytori said, and its clinical pipeline will expand with the addition of two oncology drugs. Cytori shares have dropped 9.1% over the last three months, compared with a 6.0% rise in the S&P 500 .
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