Health and Healthcare
Transition Therapeutics Scores Lilly in Diabetes Pact (TTHI, LLY)
Published:
Transition Therapeutics Inc. (NASDAQ: TTHI) is seeing shares surge in after-hours activity. It has signed a pact with Eli Lilly and Co. (NYSE: ELY) where Lilly will acquire exclusive rights to its Gastrin-based therapies program for the treatment of Diabetes. This is a licensing and collaboration pact that grants Lilly with the exclusive worldwide rights to develop and commercialize Transition’s gastrin-based therapies. This includes the lead compound TT-223, which is currently in early Phase II study testing. Gastrin based therapies have been shown to provide sustained improvement in glycemic control to help avoid complications and symptoms of diabetes.
Under the terms, Transition will receive a $7 million payment and it may also receive up to $130 million milestone payments as well as royalties. Both companies will participate in the planned phase II clinical trial for type 2 diabetes. Lilly will then be responsible for later R&D and sales of all gastrin based therapeutic products worldwide. Other terms of the deal were not disclosed.
Shares rose almost 8% today to $11.11 and the 52-week trading range was $8.73 to $14.09. Shares are up over 30% to $14.75 in after-hours trading, although we would warn traders that this one sees around 20,000 shares per day on average.
Just last week, Canaccord Adams started coverage with a Buy rating. Hats off to them, great call.
Jon C. Ogg
March 13, 2008
Travel Cards Are Getting Too Good To Ignore (sponsored)
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.