FinancialBuzz.com’s latest The Buzz Show: Featuring Our Corporate News Recap on “Acasti Pharma Inc. Announces Definitive Agreement to Acquire Grace Therapeutics, Inc.”
Acasti Pharma Inc. (NASDAQ: ACST) shares shot up over 40% in premarket trading after the company announced that it has entered into a definitive agreement to acquire Grace Therapeutics, Inc.
Grace will provide Acasti with a pipeline of rare and orphan disease programs, including 3 clinical stage assets that have received Orphan Drug Designation from the FDA and it is anticipated that the cash at closing of about $64 million will be principally used to pursue the clinical development of the first two assets through Phase 3, and further advance earlier pipeline assets into the clinic.
Acasti is a biopharmaceutical innovator that has historically focused on the research, development and commercialization of prescription drugs using OM3 fatty acids delivered both as free fatty acids and bound-to-phospholipid esters, derived from krill oil. OM3 fatty acids have extensive clinical evidence of safety and efficacy in lowering triglycerides in patients with hypertriglyceridemia, or HTG. CaPre, an OM3 phospholipid therapeutic, was being developed for patients with severe HTG.
For more information, please visit: Acasti Pharma Inc.
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