KMPH - KemPharm enters amended licensing agreement for AZSTARYS

KemPharm (KMPH) announces an amendment to the definitive collaboration and license agreement with an affiliate of private investment firm Gurnet Point Capital.Under the terms of the amended License Agreement, KemPharm is now eligible to receive a more than $100M bump in future regulatory and sales milestone payments and tiered royalties for AZSTARYS compared to the earlier agreement, brining the total to $590M.The agreement provides for an exclusive worldwide license to develop, manufacture and commercialize KemPharm’s product candidates containing serdexmethylphenidate and d-methylphenidate, including AZSTARYS.AZSTARYS is a once-daily product for the treatment of attention deficit hyperactivity disorder ((ADHD)) in patients age six years and older, and was approved by the U.S. FDA earlier this month.Shares of the company up more than 5% post market.

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KemPharm enters amended licensing agreement for AZSTARYS