Can-Fite (AMEX: CANF) disclosed that it has inked a special distribution deal with Ewopharma for Piclidenoson. As per a distribution deal, Ewopharma will give to Can-Fite $2.25 million direct with up to extra $40.45 million payable upon the accomplishment of supervisory and sales targets plus 17.5% royalties on net sales.
In return, Ewopharma will have the sole right to commercialize and divest Piclidenoson in Central Eastern European (CEE) stated and Namodenoson in CEE states and Switzerland. Ewopharma shall be entitled to increase the delivery deal to new signs that Can-Fite may recognize for its drug candidates.
Shares of Can-Fite (AMEX: CANF) skyrocketed 107.84% as it gained +2.20 during the trading session of Tuesday. The firm has recorded a trading volume of 60.04 million as compared to the average volume of 1.06 million. Its share has soared 268.70% and 42.28% from its 52-week low and high range. Can-Fite has a total market capitalization of $31.44 million at the time of writing.
Ewopharma has gained recognition as the medicinal products marketing firm that assists pharma corporations access markets in Switzerland and CEE. Additionally, Ewopharma also has inked many distribution pacts with various firms. Can-Fite is delighted to sign this pact with Ewopharma and also confident that this deal will allow in and supply to its products in the European market.