CFRX - ContraFect receives $86.8M in BARDA contract award

BARDA awarded ContraFect (CFRX) cost-share contract wherein the company will receive $9.8M in initial funding and up to an additional $77M; shares rallied 20.9% higher after hoursInitial funding will be used to support ContraFect’s ongoing pivotal Phase 3 DISRUPT (Direct Lysis of Staph aureus Resistant Pathogen Trial) superiority study of exebacase in patients with Staph aureus bacteremia, including right-sided endocarditis.Under agreement terms and if supported by Phase 3 DISRUPT study data, BARDA may provide the company with additional funding on key milestones achievement to continue the advancement of exebacase through FDA product approval and completion of post-approval commitments.

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ContraFect receives $86.8M in BARDA contract award