AIMT - Full Steam Ahead For Aimmune Therapeutics and the World's First Peanut Allergy Therapy
Aimmune Therapeutics (NASDAQ: AIMT) recently announced a $200 million cash injection from Nestle (OTC: NSRGY), the world's largest food and beverage company. The company that produces heaps of peanut-containing products will buy enough common and preferred shares to raise its voting power to 19.9%, according to Aimmune.
Since its inception, Aimmune's been focused solely on drug development at the expense of investors. Following the recent FDA approval of its peanut allergy therapy, Palforzia, the biotech is about to turn the commercial-stage corner. Debut drug launches generally don't go well, but a big cash injection from Nestle will give Aimmune a lot more room for error.
Image source: Getty Images.