India, Nov. 9 -- Edesa Biotech (EDSA) is up 38.63 percent, gaining $0.83 to $2.97 on Monday, after signing an exclusive licensing agreement with Japan's Kyorin Pharmaceutical for paridiprubart, its ARDS treatment candidate. Edesa will receive $12 million upfront, up to $134 million in milestone payments and double-digit royalties on Japanese sales.
The stock opened at $3.47 and traded between $2.76 and $3.93, compared with the previous close of $2.14 on the Nasdaq. Volume reached 62.57 million shares, versus an average of 57,420.
Paridiprubart demonstrated lower 28-day mortality in a Phase 3 study, at 39 percent versus 52 percent for placebo. Edesa retains rights outside Japan. Its 52-week range is $0.72 to $20.32.
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